Beyond the Minotaur: Charting a New Course for the Global Economy

While Yanis Varoufakis’s The Global Minotaur provides a compelling critique of the postwar global economic system, it also opens the door to imagining alternatives. The collapse of the Minotaur system signals not just an end but an opportunity to rethink how global capitalism functions.

Key to this transformation is the concept of economic democracy—where citizens have a meaningful say in economic policies and resource allocation. This approach challenges the dominance of financial markets and calls for stronger international cooperation to manage global imbalances and monetary policy.

Reform proposals include creating new international institutions to oversee currency stability, promoting fair trade practices, and ensuring that economic growth aligns with social and environmental sustainability. Varoufakis advocates for transparency, accountability, and policies that prioritize human welfare over short-term profits.

The blog synthesizes current debates on economic reform, drawing on Varoufakis’s insights and broader scholarly discussions to offer readers a roadmap for a fairer, more stable global economy. It encourages active engagement and critical reflection on the future we want to build.

By moving beyond the Minotaur, we can envision a global economy that serves all people and the planet, not just powerful elites. 1 2 4