The death of innocents haunts the living until each death is individuated, every last moment is narrated, all personal stories are woven into some unified, cathartic account. During the past ten years, much of the haunting has been lifted by superb reconstructions of the last phone calls, the self-denying rescue efforts, the struggle to escape […]
Back on 7th July I invited readers to submit short pieces on Liberty and Justice, in the context of the present crisis. The prize on offer was a signed copy of a recent book (entitled MODERN POLITICAL ECONOMICS: Making sense of the post-2008 world, jointly scribbled by myself, Joseph Halevi and Nicholas Theocarakis). The time […]
The term ‘eurobond’ is bandied about ever so lightly. This is dangerous.
In London on Thursday 1st September at 18.30? Why not join us in the launch of The Global Minotaur at the Bookmarks bookshop , 1 Bloomsbury Street? Aditya Chakrabortty (of The Guardian) will introduce the book. (Click here for a pdf of the invitation) Meanwhile, here is a piece that sums up the reasons why this […]
James Galbraith kindly sent me the following piece, commissioned by DW, with the premission to reproduce it here. It is both a timely and an astute piece entitled Unless it’s reformed, Europe’s project is doomed. Enjoy:
Two days ago, my MPhil students, sat their end of First Year final examination in a course entitled Economics as a Social Science (offered in the context of UADPhilEcon). I thought you might be interested to see the ‘cruel’ questions I set for them. Would you care to provide answers? Perhaps we can have a […]
While crises are the laboratory of the future, the euro crisis is proving more like the alchemist’s lair. Back in November, the brilliant idea was touted, with considerable fanfare, of having the EFSF buy (at a discount) Greek and Irish bonds in the secondary market (in order to effect a non-default haircut). Despite the excitement […]
This blog has been risking its readers’ sanity by repeating ad nauseam, and in a myriad different guises, the claim that the euro crisis is, at root, a chain of bank insolvencies causally attached to another (derivative) chain of member-state insolvencies. And that, as such, all attempts to deal with the resulting Crisis by rivers […]
Misleading parliament is, in normal times, frowned upon by the political class. Misleading several parliaments at once is, on the other hand, the current state of play in the European Union.
In my previous post, I mentioned a debate between Daniel Gross, a German based colleague and myself. (You can hear it here – beginning on the 38th minute). Well, in saying that, I was as guilty as the BBC anchor of silencing a fourth voice on that program. That of Kate Bopp, an Irish activist, […]
The Crisis, especially in Europe (not to mention Greece), is all consuming. Every day our minds are highjacked by its latest twist. Today, here in Athens, a general strike has temporarily suspended the news’ cycle and given me a few moments to reflect. I thought that today’s post, reflecting this… reflective moment, should transcend that […]
If 1929 has taught us anything, it is that a major (capital ‘c’) Crisis poses a lethal threat to (a) currency unions (e.g. the Gold Standard then, the euro today) and (b) political liberalism. The latter threat has, so far, featured only as a projection (see here for a relevant argument), rather than an observed […]
For the past few years, Joseph Halevi, Nicholas Theocarakis and your blogger have been working on a book whose twin (megalomaniac) purpose was: (a) To highlight the inherent error that parmeates economic thinking (of all guises and forms) while reclaiming all the lost truths that political economists hit upon at some point or rather, and […]