ATHENS – Margaret Thatcher famously quipped that the problem with socialists is that, eventually, they run out of other people’s money. But what happens when bankers run out of other people’s money, as seems likely to happen soon? Either we end up with another calamitous financial meltdown or we innovate to serve the public interest […] The post A Trust Fund for Everyone to Defuse the Stablecoin Time Bomb – Project Syndicate appeared first on Yanis Varoufakis.| Yanis Varoufakis
The IMF-World Bank Spring meetings are usually placid affairs that participating central bankers wish to forget soon after they are over. Not this Spring. This April the feeling several central bankers brought back home with them was not the usual relief but something far more visceral: dread, terror even. The reason? The spectre of the […] The post Trump Wants Big Tech to Own the Dollar – Project Syndicate op-ed appeared first on Yanis Varoufakis.| Yanis Varoufakis
War is in the air more than peace these days. This reflects not only the salience of well-known strategic traps, but also the rapid emergence of cloud capital, which is in steering the world into these traps in four distinct ways. ATHENS – The West is on a war footing. The German government is working […]| Yanis Varoufakis
Advocates of European unity used to celebrate the European Union as a peace project. But well before Russia invaded Ukraine, the European vision of a peaceful road to shared prosperity had begun to frazzle, and now the invasion has facilitated the EU’s mutation into something much uglier. ATHENS – Europe has become unrecognizable. Advocates of […]| Yanis Varoufakis
One reason women avoid the field of economics is the male chauvinist pig standing at its center, masquerading as the model of rationality. No sensible woman recognizes herself in Homo economicus, who always gets what he likes and likes what he gets. ATHENS – Economics has an intractable “women problem.” High-school girls avoid it. Female undergraduates abandon it. And […]| Yanis Varoufakis