Varoufakis, like virtually every economist wants to do the right thing, but also like every economist he’s still got half of his mind in the old paradigm of Debt and Loan Only. Hence he’s got cognitive dissonance about the way forward and makes mistakes in theory and policy. All economic theorizing that does not thoroughly see the new paradigm of Direct and Reciprocal Monetary Gifting ends up being Ptolemaic “epicycles”. A new monetary and economic paradigm is necessary to transcend and incorporate the old paradigm.