Three reviews of the German edition of The Global Minotaur (in German)

Thee reviews of my Global Minotaur (recently released in Germany under the tile Der Globale Minotaurus) have just appeared. One in Literataz-Taz-Beilage Buchmesse. Another by SWR Radio. And a third one by  WDR5 Radio.


  • All in all two maily positive reviews for the book. One thing perhaps you can answer here. The SWR commentator, who bears the famous name of a former German states president…, thinks, that your explanation for the rise of financialisation after from the 70s on is a kind of conspiracy theory, since it suggest, that there has been a plan from people behind this process. Perhaps you want to answer to that.
    My personal question on this: is there a logical argument, why this development HAD to be designed/planned?

    • It did not have to be designed. Having said that, I do make the point that clever chaps like Paul Volcker had worked actively to encourage and to create the circumstances within which the Global Minotaur could rise and rise. How do I know this? They described in detail that brave new world in the very early 1970s. Of course the beauty of this ‘beast’ is that it required no conspiracy and nothing by the lightest of designs.

  • Because most German commentators of this blog seem to have an innate need to discuss the details, as good mechanics usually do, here is something to satisfy their thirst for knowledge:

    • Only attention to details ensures a good product. A missing gasket, worth a few cents, can disable a whole engine!

    • Gray:

      Great to hear that the mechanics from the Kingdom of Westphalia are still learning on the job. Say hello to Emperor Jerome, my French buddy, from me.

  • I don’t know what’s going on here but as soon as Yani left for Seattle, Mr. Panos launched a full scale offensive from his Greek restaurant in New York 🙂

    WARNING: Don’t watch this if you get easily offended and can not laugh with Mr. Panos’ off-beat humor. 🙂

    • “… clearly it has a cost and it correlates with the depth of the recession…”

      Is that scientific justification? Is there a reseach on this correlation?

      Economist all over the world are way out of line. They must have their diplomas taken away. They must not proclaim themselves as professors or scientists. They have become madmen! Not having a clue about what the numbers under examination are representing in the real world.

      On the other hand, they have no problem defending their numbers rhetorically against reality. Well, not without a fight!
      Over our bodies.!

    • They are re-adapting the balance estimate by increasing the estimated growth rate in order to show that the debt can be sustainable.
      For Copernicus’s sake!