English North America Politics and Economics Terrorism Uncategorized

CATHARSIS DENIED: The tragedy of 9/11 ten years on

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 […]

English Politics and Economics Uncategorized

And the winner is… (The final verdict on our mini competition on Liberty, Justice and Crisis is in)

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 […]

English European Crisis Politics and Economics The Global Minotaur: A theory of the Global Crisis Uncategorized

The Minotaur in the Room: Announcing the London launch of my new book on the true causes of the ongoing global economic tumult – 1st September 2011

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 […]

English Essays

When French Folly and German Naiveté unite against Greek debt: Another sorry episode of how not to deal with a systemic crisis

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 […]

English Essays

The Penny Is Dropping: Mervyn King, Daniel Gros, Jim O'Neill, and the increasing relevance of the Modest Proposal

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 […]

English Essays

Beyond the Crisis: Markets, planning and a utopian vision (inspired by the American National Football League)

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 […]

English Essays

Open letter to the Greek Prime Minister

Dear George, A few days after the 2009 election that brought you to power, you told your cabinet in a televised meeting: "We are anti-authoritarians in authority". Most of your cabinet, men and women who had been craving authority for years, looked at you incredulously, while your detractors mocked you. You seemed rather lonesome at [...]