The Global Minotaur: A theory of the Global Crisis
The Modest Proposal as a Trojan Horse for the dreaded transfer union: Guest post by Hubert Marcks
, 17/09/2013
To all those who can’t help but feeling that an external surplus recycling mechanism as described in the modest proposal would just be an appeasing technical term for the dreaded transfer-union and that it would condemn the deficit countries into eternal servitude, I would like to point to an example within the mother of all […]
Why asymmetrical monetary unions are bound to fail (unless they feature an effective, extra-market surplus recycling mechanism)
, 15/09/2013
Asymmetrical monetary unions, wherever and whenever tried in combination with free trade and deregulated capital movements, ended up in tears and retribution. The Gold Standard, the various pegs between domestic currencies and the US dollar (S.E. Asia, Argentina, Mexico etc.), the ERM (European Exchange Rate Mechanism), the Eurozone that followed the latter’s collapse etc. they […]
Interviewed by ARENA PUBLICA: Estados Unidos ha destruido la economía social
, 06/09/2013
(For the ARENA PUBLICA’s website click here)
Global Banks as exporters of Permanent Credit Crunches to Peripheral Economies: The case of Mexico
, 05/09/2013
The speech below was delivered on 29th August 2013 at ITAM, Mexico City, in the context on a conference on planned financial sector reforms in Mexico; organised by IMEF (the Mexican Institute of Finance Executives), in collaboration with UNIFIM (a confederation of Mexican owned financial institutions). For an audio of my talk click For the text…
Looking back on the Global, European and Greek (post-2008) crises: Interview with D. Polymenopoulos
, 17/08/2013
Dimitris Polymenopoulos interviewed me recently on behalf of Greek-American newspaper The Greek Star. Click here for the original source or read on…
David Laibman reviews The Global Minotaur
, 06/08/2013
David Laibman, editor of Science & Society (the oldest academic journal of Marxist scholarship), has recently authored a review of The Global Minotaur.
The Germany Europe and the World Need – my article in HANDELSBLATT
, 29/07/2013
A few months ago, I wrote an article under the title ‘Europe Needs an Hegemonic Germany’. Handelsblatt, the respected German daily, has now picked it up and published it on 24th July 2013. (Many thanks are due to Stephen Richter, of The Globalist, for his copy-editing and support. And for posting a version of this […]
Pleased to announce that the Czech edition of the Global Minotaur is now out
, 29/07/2013
Click here or on the icon below
EUROPE UNHINGED – Article in the European Financial Review
, 23/06/2013
The following article was commission by the European Financial Review which just published it online – a hard copy version of the periodical is also out soon. It is based largely on the ideas in my Global Minotaur. For the EFR’s site click here.
The Australian Dollar, China's Bubble, QE Exit and the Eurozone: Guest Post
, 22/06/2013
I just received an interesting letter from a colleague who authorised me to share its essence with you, but without revealing his identity. The views expressed are his own and, though I do not agree with his conclusion, I believe this short letter should be essential reading for all those of us who follow the […]
In conversation with Dr Stefan Fuchs, of Deutschland Radio Kultur (dradio.de)
, 17/06/2013
Dr Stefan Fuchs, of Deutschland Radio Kultur, paid me a great compliment a couple of weeks ago when he visited me in Athens and put to me pertinent, hard, questions on the state of the global political economy, on Europe, on economics etc. That interview has just been published on the dradio.de site and is […]
Interviewed by Kristina Bozic, for OBJECTIV
, 08/06/2013
On 13th March Kristina Božič paid me a great complement by interviewing me for slovenian journal Objectiv. The breadth and insightfulness of the questions gave me much pleasure. To read the article in its original home, click here. Alternarively, read on (Google translate does a decent job)…
Mixed messages from the IMF: Interview with Tom Hirst
, 03/06/2013
An interview follows with Tom Hirst, the shining light behind the new economics and finance website Pieria (well with visiting for the diversity of views it offers). To read the interview, which focuses on the IMF’s attitude toward Britain on the one hand and the Eurozone on the other, click here for the Pieria site […]
The Utopia of Democracy: May 12th to 18th in Zagreb
, 08/05/2013
Beginning this coming Sunday 12th May, and lasting all of next week, the 6th Subversive Festival will be held in Zagreb. This year’s general theme is: THE UTOPIA OF DEMOCRACY. Speakers will include Tariq Ali, Oliver Stone, Susan George, Franco Bifo, Alexis Tsipras, Jean Luc Melenchon, Eric O. Wright. Slavoj Zizek and… yours truly. It promises […]
Macroeconomic experiments: Abenomics versus Euro-austerity
, 03/05/2013
The ABC’s (Australian Broadcasting Corporation) online periodical, THE DRUM, commissioned me to write an article comparing and contrasting the policy responses to the Crisis of Japan and of the Eurozone. Click here for the ABC’s website. Or read on below…
On CBC Radio's 'Writers' Program: Interviewed by Eleanor Wachtel on the Global Minotaur
, 08/04/2013
Over the past few years, I have been interviewed extensively on my views of the Crisis and my writings. Of all these interviews, this is the one that I enjoyed giving the most. Eleanor Wachtel generously afforded me the space to talk about Greece, my parents (and my experiences of growing up in Greece in […]
'Coffee' with the General Secretary of the OECD, discussing the Global Crisis; plus a talk on the Global Crisis
, 30/03/2013
As some of this blog’s regulars may remember, on 1st March 2013, I was invited to meet with the General Secretary of the OECD, Mr Angel Gurria, to exchange views on the global economic crisis and to discuss alternative policies that may help end it. Now, the OECD has produced a brochure capturing these meetings as […]
At the OECD, Paris, this Friday 1st March, speaking to: "The Euro Crisis, Asia's Woes and America's Dilemma in a Global Context"
, 26/02/2013
This coming Friday, 1st March, I shall be addressing the OECD on the need to re-think the Euro Crisis, Asia’s angst and America’s conundrum. My argument will be that markets cannot be trusted to correct the global imbalances underpinning our collective woes. Political action is needed at a global scale. Correction: In the original post, […]
Europe needs a hegemonic Germany
, 22/02/2013
For six decades Germany was being pampered by a hegemonic America that oversaw the write-off of its wartime debts, the reversal of Allied designs to de-industrialise it and, above all else, the constant generation of the global demand which allowed German manufacturers to concentrate on efficiently producing quality, desirable wares.
Guest post: The Crisis as a repercussion of global imbalances, by Peter Dorman
, 19/02/2013
Peter Dorman wrote this piece in 2009 shortly after the financial implosion and has recently revised it. While I agree with almost all of what he has to say, one comment seems to me pertinent: The global rebalancing which Peter mentions, toward the paper’s end, is (a) uncertain and, to boot, (b) certain, if it happens, […]
On the Global Minotaur’s Recycling Loop: An elementary comparison of US-German and Intra-Eurozone trade & capital flows
, 17/02/2013
This post was occasioned by a reader’s (Alejandro Calve Seferian) query: Why do I presume that an accelerating US trade deficit required an offsetting tsunami of net capital flows, from the Rest of the World to the US, in order to ‘close the loop’ and, thus, provide long term aggregate demand to the Rest of […]
A discussion with Evergreen College students on the state of the global economy
, 15/02/2013
Yesterday, 14th February 2013, I spent a wonderful 75 minutes visiting a wonderful class of students at Evergreen College – the inverted commas denoting that I did so from… Austin, using the excellent AV facilities of both Evergreen and the LBJ Graduate School of Public Affairs (thanks are due to the excellent support staff on both ends). […]
The Global Minotaur reviewed in the Calcalist (in Hebrew) by Uri Pasovsky
, 08/02/2013
As the second edition of my The Global Minotaur is about to hit the bookstands, Uri Pasovsky just published an extensive review of it in Calcalist, the leading Israeli business daily. Thanks Uri. Click here for the review.
Toward an evolutionary model of the Eurozone Crisis: Ayers Scholar address, ASSA, San Diego
, 08/01/2013
We are all familiar with the so-called domino effect, or contagion, that began in Greece and has taken its toll throughout the Eurozone. Interestingly, no formal economic model has ever attempted to capture the essence of this negative dynamic. When the Association for Evolutionary Economics (AFEE) chose to honour me with the ‘Ayres Scholar for 2013’ accolade, […]