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Austerity as a destabilising assault on the New Deal institutions: A joint presentation by J.K. Galbraith & Y. Varoufakis (video)
, 27/02/2014
A debate involving James K. Galbraith, Yanis Varoufakis and Jeff Sommers (in the role of moderator) took place on 24th February at the University of Wisconsin, Milwaukee in the context of the George Kennan Distinguished Lecture Series. An amateurish recording is available here. For ease of ‘navigation’, a list of topics (with their location on […]
Don't Try This at Home! Greek Austerity
, 26/02/2014
by JEFFREY SOMMERS and YANIS VAROUFAKIS This is an op-ed published in initially in the Wisconsin-Milwaukee Journal Sentinel, on 22nd February 2014, and then in CounterPunch, on 26th February 2014. You can read the text here by clicking…
Can the Internet democratise capitalism?
, 21/02/2014
Technological fixes to time-honoured problems are all the rage these days. Bitcoin is meant to fix money, social media are seen as an antidote to Rupert Murdoch and assorted tyrants, networked robots are to help countries like Japan deal with demographic declines etc. Perhaps the largest claim is that the Internet has helped (or is […]
The Folly of Biblical Economics: Lessons from Europe that Americans must heed
, 18/02/2014
Moralizing and generalization have always been terrible foundations for public policy.
BITCOIN: A flawed currency blueprint with a potentially useful application for the Eurozone
, 15/02/2014
The responses of many to my post on Bitcoin reveal a powerful tendency to underestimate the ill-effects of deflation on a social economy. This tendency to underestimate deflation’s deleterious impact matters beyond debates on Bitcoin per se. For example, in Europe the incapacity of the European Central Bank (ECB) to act in the face of […]
Europe's Economy: the eurozone, Greece, the Scottish question, France and Italy – on RT tv
, 14/02/2014
To watch my interview jump to 13′
The US-Mexican Border Fence 20 years after NAFTA – Danae Stratou’s installation
, 12/02/2014
On 6th and 7th February 2014, the LBJ School of Public Affairs (University of Texas at Austin) organised a conference on the 20 years since the signing of the North America Free Trade Agreement Treaty, entitled NAFTA+20: Intended and Unintended Consequences. The organisers commissioned Danae Stratou to produce a photographic installation in the entrance of the […]
Peter Bofinger’s Euro-bundles are a Step Backwards – to the EFSF’s toxic bonds. But they do point to a real solution
, 10/02/2014
by James Galbraith, Stuart Holland and Yanis Varoufakis (*) Peter Bofinger’s proposal for Euro-bundles (see here for an introduction) serves the noble purpose of rekindling the debate on the Eurozone’s fiscal and monetary incoherence. The idea behind Euro-bundles is to issue a common bond without joint liability that the ECB can then purchase in the […]
Peter Bofinger’s Euro-bundles: What are they? A primer plus pertinent queries by George Krimpas
, 08/02/2014
His proposal for a Eurobond, as an instrument of fiscally consolidating the Eurozone, was soundly rejected by the German Chancellor. Now, with an ECB paralysed in the face of a major deflationary onslaught, Professor Peter Bofinger comes up with a variant of the rejected Eurobond, which he calls ‘Euro-bundles’, only this time as an instrument […]
GERMANY’S CHOICE: AUTHORITARIANISM OR HEGEMONY? (*)
, 03/02/2014
For those of us who grew up under totalitarian regimes, it is noteworthy that Europeans are resorting to a time-honoured tradition: telling jokes as a form of defiance. Here is one: “Why did Europeans agree to form the euro?” “Because”, the joke goes, “the French feared the Germans, the Irish wanted to escape Britain, the […]
War spikes in the Eve Online universe: A political economist’s account
, 30/01/2014
Vicious, intense war broke out the other day. Hundreds if not thousands of people, in New York, in Chicago, in the great capitals of Europe, in China, rushed home on the news that hard-earned assets they were keeping in an inhospitable far away place had been placed under sustained, brutal military attack. By the end […]
Being Greek and an Economist While Greece Burns: An intimate account – MGSA Keynote 2013
, 16/11/2013
(Gonda Van Steen introduced the audience to the MGSA 2013 Conference and Artemis Leontis introduced me. The talk begins at around 10′, when the audio becomes loud and clear) The Modern Greek Studies Association (MGSA) kindly invited me to deliver its 2013 Keynote, at the MGSA biannual Conference held at Indiana University. I grabbed the opportunity […]
Democracy: Its trials and tribulations in the face of financialisation, crisis and technological change
, 15/11/2013
On 15th November the Department of Political Science at Indiana University kindly organised a talk on the theme of Democracy. Here is an audio of my 40 minute talk on the subject.
Does Europe threaten world recovery? Lessons for the US
, 13/11/2013
On 12th November 2013 Economists for Peace and Security convened a workshop in Washington DC to discuss Jobs, Investment and Rebuilding America: An economic and national security agenda. In that forum we heard Jason Furman, Chair of the Council of Economic Advisors, deliver a passionate speech in defence of social security and welfare provisions against […]
Vote for your favourite entry in the Vital Space 60'' Video Competition
, 11/11/2013
You may recall that some time ago vitalspace.org announced a one-minute video competition under the theme Raising Awareness in 60”. A panel of jurists has already given its verdict. But the People’s Prize is still up for grabs. Click here to watch the brilliant entries and vote!
PONZI AUSTERITY: A definition and an example
, 08/11/2013
For a while now I have been arguing that Europe’s policies for reducing the public debts of fiscally stressed member-states can be described as a Ponzi austerity scheme. In this post I attempt precisely to define ‘Ponzi austerity’.
Video: Yves Leterme on the Eurozone Crisis
, 07/11/2013
Eves Leterme was one of two keynote speakers in our “Can the Eurozone be saved?” conference at the LBJ School of Public Affairs, University of Texas at Austin. Not only the OECD’s Deputy Secretary General but also a former Prime Minister of Belgium, indeed he was at the helm of the Belgian government at the […]
Beyond Pop Histories of the European Union – in The Globalist
, 06/11/2013
The following piece was published in The Globalist on 5th November 2013, extracted and edited by Stephan Richter (thanks Stephan) from my Sydney talk The Dirty War for Europe’s Integrity and Soul. Click here for The Globalist’s page or…
Europe: Technocrats versus Democrats – in The Globalist
, 06/11/2013
The following piece was published in The Globalist on 5th November 2013, extracted and edited by Stephan Richter (thanks Stephan) from my Sydney talk The Dirty War for Europe’s Integrity and Soul. Click here for The Globalist’s page or…
Watch the Austin Conference on the Eurozone live
, 04/11/2013
Click here for a live feed of the ‘Can the Eurozone Crisis be saved?’ conference? For more information on the conference click here.
The US Treasury is right about Germany's Eurozone policies: Here is why
, 01/11/2013
On 30th October, in its Report to Congress on Economic and Exchange Rate Policies, the US Treasury took a swipe at Germany, accusing it of exporting economic depression to the rest of Eurozone and, indeed, to the global economy. The German Finance Ministry responded the next day with a statement that: “There are no imbalances in […]
The Greek government has a moral duty to use its veto in the next EU Summit: Q&A with Zdenka Pankovic
, 31/10/2013
Q&A with Zdenka Pankovic of financial journal DVENVIK:
On ABC Radio National's 'Big Ideas' program: 'The Dirty War for Europe's Integrity & Soul'
, 30/10/2013
ABC Radio National’s ‘Big Ideas’ program has now broadcast my talk entitled The Dirty War for Europe’s Integrity & Soul (original broadcast: 30th October, 20.05 Sydney time). [Click here for details of the lecture.] For the complete transcript click here – please note that the ABC (to fit in both the talk and the discussion the […]
Jobs, Investment, and Rebuilding America: Economic and National Security Issues – Workshop in Washington DC, 12th November
, 30/10/2013
Economists for Peace and Security is organising a workshop on Jobs, Investment, and Rebuilding America: Economic and National Security Issues. It will take place at the Hyatt Regency, Washington DC, Capitol Hill. The keynote speech will be delivered by Jason Furman, Chair of the US Council of Economic Advisers. My involvement will concern the economic and financial […]