Yanis Varoufakis: The Global Minotaur 1/4

Dr. Yonas Pero discusses his book, The Global Minotaur, which uses a metaphor to explain the 2008 economic crisis and the challenges in recovering. The discussion covers the Bretton Woods system, surplus recycling, and the US's role in the global economy. The US shifted from a surplus to a deficit country, maintaining global demand by recycling other countries' surpluses. This mechanism, while effective, became increasingly unstable, echoing past economic dilemmas.

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