Essays
Depressed, depressing Europe – video
, 13/05/2014
In conversation with Andrew Brady of USiLive regarding the state of Europe now.
How the Greek Banks Secured an Additional, Hidden €41 billion Bailout from European taxpayers
, 11/05/2014
In 2013 Greek taxpayers borrowed from the rest of Europe’s taxpayers €41 billion to pump into the Greek banks. This is well known. What is not known is that, also in 2013/4, the Greek banks received an additional, well hidden, €41 billion bailout loan from Greek and European citizens. This bailout was never authorised by any Parliament or […]
Sleepless in Europe – in Huffington Post
, 10/05/2014
Some weeks ago I heard Arianna Huffington deliver a talk, in Austin, on sleep deprivation and the terrible decisions that it leads to. This made me recall that all the awful decisions of our European leaders (and there were so many of them) were reached at around 4.00am. I mentioned that to Arianna and she […]
DIGITAL ECONOMIES: Markets, Money and Democratic Politics Revisited
, 08/05/2014
Audio and transcript of the keynote I delivered on 5th May 2014 in Seattle in the context of the CFA Institute’s Annual Conference entitled The Future of Finance.
Interviewed by REASON magazine on virtual worlds and the future of economics
, 07/05/2014
“A Multiplayer Game Environment Is a Dream Come True for an Economist” Interview by Peter Suderman from the June 2014 issue of REASON magazine – click here for Reason’s web version. Or read on…
Europe’s slide into deflation, and what to do about it – Interviewed for Jornal de Negócios by Jorge N. Rodrigues
, 04/05/2014
Europe is in the clasps of the deflationary forces that resulted directly from its inane handling of the Eurozone crisis. In this interview, I discuss deflation and low-flation and suggest a particular form of quantitative easing that, unlike the Fed’s or the Bank of England’s QE, will not reinflate the bubbles of the financial sector but, instead, […]
EUROBANK: Another scandal re-packaged as part of the Greek Success Story
, 04/05/2014
Eurobank is an apt example of Greek ingenuity. Its name is a coup in itself.[1] Beyond semantics, however, and coming to recent developments, Eurobank is a wonderful example of the Greek establishment’s ingenious efforts to defraud Greek and European taxpayers, and then to proclaim a glorious Greek Success Story, weeks before the European Parliament elections. […]
My endorsement of Alexis Tsipras' Candidacy for the Presidency of the European Commission – video
, 01/05/2014
Over the past year I have argued that Europe needs a jolt.
‘European Progressive Policy Initiative’ endorses the Modest Proposal’s four main policies
, 01/05/2014
A group of noted international economists (including Joseph Stiglitz, Peter Bofinger and Stefanie Griffith-Jones), known as the European Progressive Policy Initiative (EPPI), has issued a policy paper that endorses the main planks of our Modest Proposal for Resolving the Euro Crisis 4.0. EPPI was assembled in 2013 by Europe’s social democratic alliance in the European […]
Europe and Greece in Review: Interviewed by Michael Maier for Deutsche Wirtschafts Nachrichten
, 28/04/2014
Interviewed by Dr. Michael Maier for Deutsche Wirtschafts Nachrichten: For the interview in German, as published on the DWN site, Click here for PART A , on the Ukrainian crisis Click here for PART B, on Greece and the Eurozone For the whole interview in English,…
James Galbraith on Piketty’s Capital in 21st Century – video/interview
, 26/04/2014
See also James Galbraith’s splendid review of T. Piketty’s ‘Capital’ here.
Easter wishes to all
, 20/04/2014
Who said that Easter has no significance in our cynical age, even to atheists like myself? Suffering, the sacrifice of the innocents, persecution of prophets of truth – it is all going on with a vengeance. On this note, Happy Easter to all. (The photo above was taken by Danae Stratou on the US-Mexican border […]
More on the Grand Greek De-coupling – Interviewed on RT tv
, 16/04/2014
Interviewed on RT’s Boom-Bust show on themes already covered in posts here and here.
Inequality: Should we care? A debate between Y. Brook (Ayn Rand Institute) and J. Galbraith & Y. Varoufakis (UT); 17th April at UT Austin
, 16/04/2014
Witness a dramatic battle of ideas between two internationally known speakers over the question of whether or not we should be concerned about economic inequality.
The Grand Greek Paradox: Bankrupt but embraced by the money markets – On the BBC World Service
, 09/04/2014
(listen to the first story; first 15′) Greece is about to issue 5 year bonds again. Berlin, Brussels, Frankfurt and Athens are celebrating Greece’s recovery. For my part, I think (and tell the BBC World Service) that this is a sad day for Greece and it is a sad day for Europe. Why do I refuse […]
Das Kapital for the Twenty-First Century? A review of T. Piketty’s new book by James K. Galbraith
, 03/04/2014
Thomas Piketty has a new book out: Capital in the Twenty-First Century. It is an ambitious volume that sets out to explain the sources of inequality and social tensions in the context of his own anatomy of… Das Kapital. As this book is receiving a great deal of attention, a proper review is in order. Thankfully, James K. Galbraith […]
Europe’s latest policy on Irish and Greek banking losses: A tale of two swindles too similar for comfort
, 01/04/2014
The Irish and the Greeks are, in many ways, very different people. And yet, caught up in the Euro Crisis, our fortunes have become too close for comfort. Recently, European authorities have devised a creative new method for damaging the people of Ireland and of Greece further. The new method involved imposed changes on the public […]
Reaching For Our Revolvers: How a United Europe defused its culture and divided its people
, 31/03/2014
This is an article that appeared in Brooklyn Rail, a NYC-based art magazine. My brief was to write a piece on the effects of European unification on European culture. Click here for the BR website version. Or…
AUSTERITY – a televised debate (by the Institute of World Affairs) on its logic and discontents featuring J.K. Galbraith, Jeff Sommers and Yanis Varoufakis
, 27/03/2014
James Galbraith, Lloyd M. Bentsen Jr. Chair in Government/Business Relations and Professor of Government, University of Texas – Austin Yanis Varoufakis, Visiting Professor at the Lyndon B. Johnson School of Public Affairs, University of Texas – Austin, and Jeffrey Sommers, Senior Fellow, Institute of World Affairs Moderator: Doug Savage, Institute of World Affairs
Think Big, Think Bold
, 25/03/2014
Why the Left in Britain and in the Eurozone must aim for a radical Pan-European Green New Deal The Centre for Labour and Social Studies (CLASS) kindly invited me to draft a possible Manifesto for the European Left, in view of the May 2014 European Parliament election. Here is the final document I produced entitled […]
How do the powerful get the idea that they ‘deserve’ more? Lessons from the… laboratory
, 21/03/2014
The ‘haves’ of the world are always convinced that they deserve their wealth. That their gargantuan income reflects their ingenuity, ‘human capital’, the risks they (or their parents) took, their work ethic, their acumen, their application, their good luck even. The economists (especially members of the so-called Chicago School. e.g. Gary Becker) aid and abet […]
Is this an alien landing site, ancient monument, or something else?
, 15/03/2014
Readers of this blog are familiar with Danae Stratou‘s photographic works (her photos adorn the header above). In this post I copy a story from CNN.COM about Desert Breath: one the largest and (in my eyes) most significant land art projects on the planet’s face. It is the creation of Danae Stratou, Alexandra Stratou and […]
Tony Benn – in memoriam
, 14/03/2014
Tony Benn’s passing saddened and concentrated my mind. His was the voice that resonated with (a much younger version of) me most powerfully immediately after I moved to England in 1978. I was attracted instantly to the combination of: his commitment to the progressive history and potential of British Parliamentarianism, his passionate anti-imperialist pacifism, his relentless […]
On Bitcoin’s potential: Q&A on what Bitcoin can and cannot offer a troubled world
, 13/03/2014
Following my debate with Andreas Antonopoulos on ABC Late Night Live, graduate students of mine (at the University of Texas) were kind enough to piece together a related Q&A reflecting my views on BTC. Read on…