 Yanis Varoufakis is an outstanding economist and political analyst. His remarkable talents are fully in display in his recent study of Europe's crisis and America's economic future. The most revealing and perceptive analysis of developments of the global economy in the past half century and their grim consequences now severely threatening western societies in economic, political and social domains. Soon after came the predictable crash of unregulated finance and the great recession, deflation of the past years. What has followed is the collapse of centrist institutions throughout the west, the cruel and destructive austerity policies of Europe, the brutal treatment of Greece and the dangerous forms of xenophobic nationalism that are spreading throughout Europe and the United States. The developments that Varoufakis spells out in vivid and illuminating detail. In reaction to these grim and threatening developments, Varoufakis has initiated a call for a new progressive international, DM-25, a promising and constructive approach to the crisis that confronts us. These are major contributions, intellectual and policy oriented, contributions for which we are all deeply indebted.