TY  - BOOK
AU  - Varoufakis,Yanis
AU  - Mason,Paul
TI  - The global minotaur: America, Europe and the future of the world economy 
SN  - 9781783606108
AV  - HD82 
U1  - 330.9/045 23
PY  - 2015///
CY  - London
PB  - Zed Books
KW  - Global Financial Crisis (2008-2009)
KW  - fast
KW  - International finance
KW  - History
KW  - 20th century
KW  - 21st century
KW  - Economic forecasting
KW  - Balance of trade
KW  - United States
KW  - Global Financial Crisis, 2008-2009
KW  - Finanskrisen 2008-2009
KW  - sao
KW  - Ekonomiska prognoser
KW  - Ekonomisk historia
KW  - Budgetunderskott
KW  - Handelsbalans
KW  - Economic policy
KW  - International economic relations
KW  - Foreign economic relations
KW  - Förenta staterna
N1  - Includes bibliographical references (pages 257-271) and index
N2  - The author explodes the myth that financialization, ineffectual regulation of banks, greed and globalization were the root causes of the global economic crisis. Rather, they are symptoms of a much deeper malaise which can be traced all the way back to the Great Crash of 1929, then on through to the 1970s: the time when a 'Global Minotaur' was born. Just as the Athenians maintained a steady flow of tributes to the Cretan beast, so the 'rest of the world' began sending incredible amounts of capital to America and Wall Street. Thus, the Global Minotaur became the 'engine' that pulled the world economy from the early 1980s to 2008. Today's crisis in Europe, the heated debates about austerity versus further fiscal stimuli in the US, the clash between China's authorities and the Obama administration on exchange rates are the inevitable symptoms of the weakening Minotaur; of a global 'system' which is now as unsustainable as it is imbalanced. Going beyond this, the author lays out the options available to us for reintroducing a modicum of reason into a highly irrational global economic order
ER  -