Yanis Varoufakis

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Yanis Varoufakis
Varoufakis giannis 0943.jpg
Born (1961-03-24) 24 March 1961 (age 53)
Athens, Greece
Nationality Greek/Australian
Institution University of Texas – Austin
University of Athens
Field Microeconomics
Game theory
Experimental economics
International economics
Political economy

Yanis Varoufakis (Greek: Γιάνης Βαρουφάκης, born 24 March 1961) is a political economist and author of dual Greek-Australian nationality. He is an active participant in the current debates on the global and European crisis, the author of The Global Minotaur, a Professor of Economic Theory at the University of Athens and a private consultant for Valve Corporation.


After training in mathematics and statistics, Varoufakis received his economics doctorate in 1987 at the University of Essex. Before that he had already begun teaching economics and econometrics at the University of Essex and the University of East Anglia. In 1988 he spent a year as a Fellow at the University of Cambridge. From 1989 until 2000 he taught as Senior Lecturer in Economics at the Department of Economics of the University of Sydney. In 2000 he moved to his native Greece where he is still Professor of Economic Theory at the University of Athens (currently on leave). In 2002 Varoufakis established The University of Athens Doctoral Program in Economics (UADPhilEcon), which he directed until 2008. Since January 2013 he has been teaching at the Lyndon B. Johnson School of Public Affairs at the University of Texas at Austin.

Euro crisis, economic policy and The Modest Proposal[edit]

From January 2004 to December 2006 Varoufakis served as economic adviser to George Papandreou, whose government he was to become an ardent critic of a few years later. Author of several books on game theory, Varoufakis is also a recognised speaker and often appears as guest analyst for news media like the BBC, CNN, Sky News, Russia Today and Bloomberg TV among others. In November 2010 he and Stuart Holland, a former Labour Party MP and economics professor at the University of Coimbra (Portugal), published A Modest Proposal, a set of economic policies aimed at overcoming the Euro crisis.[1] In 2013, Version 4.0 of A Modest Proposal appeared with the American economist James K. Galbraith as a third co-author. This version was published in late 2013 in French with a supporting foreword by Michel Rocard, former Prime Minister of France. Since September 2011, Truman Factor features select articles by Varoufakis in English and in Spanish. Varoufakis compares the role of the US economy since the 1970s in relation to the rest of the world with the minotaur.[2]

The Globalizing Wall[edit]

In 2005/6 Varoufakis travelled extensively with artist Danae Stratou along seven dividing lines around the world (in Palestine, Ethiopia-Eritrea, Kosovo, Belfast, Cyprus, Kashmir and the US-Mexico border). Stratou produced the installation CUT: 7 dividing lines, while Varoufakis wrote texts that then became a political-economic account of these divisions, entitled The Globalising Wall. In 2010 Stratou and Varoufakis founded the project Vital Space.[3]

Valve Corporation[edit]

Beginning in March 2012, Varoufakis became Economist-in-Residence at Valve Corporation, a major video game company, where he researched the digital economies that spontaneously take shape within the borderless communities of video game players. In June 2012, he began a blog about his research at Valve. As of February 2013, he now states that his function at Valve is as a private consultant.[4][5][6][7]

Books in English[edit]

  • Economic Indeterminacy: A personal encounter with the economists' most peculiar nemesis. London and New York: Routledge, 2013 (ISBN 0415668492)
  • The Global Minotaur: America, the True Origins of the Financial Crisis and the Future of the World Economy. Zed Books, 2011 (translations in German, Greek, Italian, Spanish and soon in Finnish); second edition 2013
  • Modern Political Economics: Making sense of the post-2008 world. London and New York: Routledge, 2011 (with Joseph Halevi and Nicholas Theocarakis)
  • Game Theory: A critical text. London and New York: Routledge, 2004 (with Shaun Hargreaves-Heap)
  • (ed.): Game Theory: Critical Perspectives. Volumes 1–5, London and New York: Routledge, 2001
  • Foundations of Economics: A beginner's companion. London and New York: Routledge, 1998
  • Game Theory: A critical introduction. London and New York: Routledge, 1995 (with Shaun Hargreaves-Heap)
  • Rational Conflict. Oxford: Blackwell, 1991
  • (ed.): Conflict in Economics. Hemel Hempstead: Wheatsheaf and New York: St Martin's Press, 1990 (with David P. T. Young )

His next book currently has the working title Reverse Alchemy: Europe on the Road to Disintegration.

Selected interviews/reviews[edit]


  1. ^ Yanis Varoufakis: Euro Crisis
  2. ^ Russell Shorto: The Way Greeks Live Now. In: The New York Times. 13 February 2012
  3. ^ Vital Space: Mission and Biographies
  4. ^ Yanis Varoufakis (15 February 2013). "Yanis Varoufakis' Twitter". Retrieved 14 July 2013. 
  5. ^ Yanis Varoufakis (14 June 2012). "It All Began With a Strange Email". Valve Corporation. Retrieved 14 June 2012. 
  6. ^ Daniel Nye Griffiths: The Value of Fun: Valve Software Appoints In-House Economist. In: Forbes. 15 June 2012
  7. ^ Amie Tsang: [1] Real Lessons From Virtual Worlds. In: [Financial Times]. 13 February 2013

External links[edit]