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Inflation as a Political Power Play Gone Wrong – Project Syndicate op-e

, 30/07/2022

The blame game over surging prices is on. Was it too much central-bank money being pumped out for too long that caused inflation to take off? Was it China, where most physical production had moved before the pandemic locked down the country and disrupted global supply chains? Was it Russia, whose invasion of Ukraine took […]

The Peace Process Ukraine’s Supporters Should Support – Project Syndicate op-ed

, 06/06/2022

In 1943, progressives had a moral duty to dismiss calls for a negotiated settlement with Hitler. Cutting a deal with the Nazis to end the carnage would have been unforgivable. Civilized people had only one option: to keep fighting until Allied troops stood over Hitler’s Berlin bunker. Today, by contrast, it would be a grave […]

Cloudalists: Our New Cloud-based Ruling Class – Project Syndicate op-ed

, 12/04/2022

Capital is everywhere, yet capitalism is on the wane. In an era when the owners of a new form of “command capital” have gained exorbitant power over everyone else, including traditional capitalists, this is no contradiction. ATHENS – Once upon a time, capital goods were just the manufactured means of production. Robinson Crusoe’s salvaged fishing […]

Why Stop at the Russian Oligarchs? Project Syndicate op-ed

, 12/04/2022

At a time when Russian bombs are destroying Ukrainian cities, there is good reason to focus on the oligarchs supporting the Kremlin. But do American multi-billionaires and Saudi princes enjoy less political clout, stash less money abroad, and use their influence any better? ATHENS – No sooner had Roman Abramovich, newly targeted by the United […]

How the euro divided Europe, and why countries like Bulgaria should not join – Project Syndicate, Oxford Union video & Keynote audio

, 26/01/2022

This January marked the 20th anniversary of euro notes and coins circulating. In an op-ed published by Project Syndicate I argue that the euro was an unmitigated failure even by the criteria of its architects. This is an updated analysis of a keynote I delivered a few years ago at the Oxford Union – see […]

Why We Must Challenge Zuckerberg’s Ring of Power – Project Syndicate

, 26/01/2022

Learning to appreciate that control is an illusion is hard, especially when we are prepared to sacrifice almost everything, to pay any price, to control others. But if we are to stop others—Mark Zuckerberg, for example—from controlling us, it is a lesson we must learn. Once upon a time, in the ancient kingdom of Lydia, a […]

The West’s Wasted Year – Project Syndicate

, 06/12/2021

A year that began hopefully is ending grimly. Western political elites, unable (and perhaps unwilling) to turn a deadly pandemic and climate crisis into a life-preserving opportunity, have only themselves to blame. ATHENS – The silver lining in the gloomy cloud of the pandemic was the opportunity it gave the West to mend its ways. […]

A Progressive Monetary Policy Is the Only Alternative – Project Syndicate

, 06/12/2021

Torn between inflationary jitters and fear of deflation, central bankers in the major advanced economies are taking a potentially costly wait-and-see approach. Only a progressive rethink of their tools and aims can help them play a socially useful post-pandemic role. ATHENS – As the coronavirus pandemic recedes in the advanced economies, their central banks increasingly […]

Star Trek versus Imperialist Doctrine – Common Dreams & Project Syndicate

, 31/08/2021

America’s liberal imperialist doctrine has been responsible for appalling carnage in places like Vietnam, Iraq, and Central America. But America has also produced a liberal anti-imperialist doctrine that remains ensconced in a TV series that has been captivating US audiences since 1966. ATHENS – On February 9, 1967, hours after the US Air Force pounded […]

A central bank cryptocurrency to democratise money – Project Syndicate & Jordan Times

, 02/08/2021

The history of money has been the history of the struggles to control the payment system and the money tree. Today, with control over both resting in the hands of bankers, central banks’ efforts to boost business end up amplifying inequality while failing to address either economic stagnation or the looming climate disaster. The time […]

Techno-Feudalism Is Taking Over – Project Syndicate op-ed

, 05/07/2021

This is how capitalism ends: not with a revolutionary bang, but with an evolutionary whimper. Just as it displaced feudalism gradually, surreptitiously, until one day the bulk of human relations were market-based and feudalism was swept away, so capitalism today is being toppled by a new economic mode: techno-feudalism. This is a large claim that […]

Η κρυφή γοητεία της Λιτότητας

, 27/05/2021

Αν η Λιτότητα είναι μια ιδέα τόσο κακή όσο λέω ότι είναι, κι η εφαρμογή της συρρικνώνει την οικονομική δραστηριότητα ακόμα και των ισχυρών, τότε γιατί είναι τόσο δημοφιλής μεταξύ των κραταιών της γης; Κατά τη δεκαετία του 1840, ο Τόμας Πηλ αποφάσισε να μεταναστεύσει από την Αγγλία στον Κύκνειο Ποταμό της Δυτικής Αυστραλίας. Ευκατάστατος […]

Austerity’s hidden purpose – Project Syndicate/Katmandu Post

, 20/05/2021

Back in the 1830s, Thomas Peel decided to migrate from England to the Swan River in Western Australia. A man of means, Peel took along, besides his family, ‘300 persons of the working class, men, women, and children,’ as well as ‘means of subsistence and production to the amount of £50,000.’ But soon after arrival, […]

The Eternal Marx: Reviewing Shlomo Avineri’s KARL MARX: PHILOSOPHY & RELIGION

, 04/05/2021

Shlomo Avineri’s recent biography demolishes the charge that Karl Marx was a self-hating anti-Semite. And by dragging Marx, kicking and screaming, back into the Rhinish Jewish community that shaped him, Avineri yields new insights pertinent to today’s global challenges. Shlomo Avineri, Karl Marx: Philosophy and Revolution, Yale University Press, 2019. The problem with egotists is that […]

Football Takes Capitalism Out of Bounds – Project Syndicate

, 04/05/2021

Europe has discovered its moral Rubicon, the frontier beyond which commodification becomes intolerable. The line in the sand that Europeans refuse to cross, come what may, has just been drawn. We bowed to bankers who almost blew up capitalism, bailing them out at the expense of our weakest citizens. We turned a blind eye to […]

Ποδόσφαιρο – Καπιταλισμός 1Χ2

, 04/05/2021

Την περασμένη εβδομάδα, η Ευρώπη ανακάλυψε τα όρια της ανοχής της. Την ηθική της ραχοκοκκαλιά. Το σύνορο πέραν του οποίου θεωρεί ανυπόφορη την περαιτέρω εμπορευματοποίηση των αξιών. Την λεπτή κόκκινη γραμμή που οι Ευρωπαίοι αρνούνται να περάσουν, ό,τι και να τους τάξουν. Μπορεί να σκύψαμε το κεφάλι στους τραπεζίτες που τίναξαν στον αέρα τις οικονομίες […]

A Covid-19 counterfactual for Europe – Project Syndicate

, 10/04/2021

Imagine that the coronavirus pandemic, rather than undermining confidence in the European Union, had strengthened it. Imagine that Covid-19 had persuaded EU leaders to overcome years of acrimony and fragmentation. Imagine that it had catalysed the emergence this year of a stronger, more integrated bloc to which the world looked for global leadership. Imagine. It […]

The Goldilocks Stimulus Myth – Project Syndicate, The Kathmandu Post

, 09/03/2021

Both supporters and critics of US President Joe Biden’s $1.9 trillion stimulus plan assume that there is a dollar amount that is just right. In fact, no such figure exists: every possible stimulus size is simultaneously too little and too big. ATHENS – US President Joe Biden, facing the great challenge of stimulating his country’s […]

Η Αλήθεια Μετά τον Τραμπ – από την στήλη μου στο 24 | 7

, 03/02/2021

Οι αντίπαλοι του Ντόναλντ Τραμπ τον αποκαλούν ψεύτη. Το πρόβλημα όμως είναι ότι ο Τραμπ είναι κάτι πολύ χειρότερο από ψεύτης. Ο Νίξον έλεγε ψέματα για να θάψει αλήθειες, το ίδιο κι ο Κλίντον και πολλοί άλλοι. Όχι, το πρόβλημα με τον Τραμπ είναι ότι μέσα σ’ ένα χείμαρρο ψεύδους που έβγαινε από το στόμα του που […]

The COVID Class War – THE IRISH EXAMINER & Project Syndicate

, 02/07/2020

“Strengthening the solidarity of Europe’s oligarchs is not a good strategy for empowering Europe’s majority. Quite the contrary. Any “recovery” based on such a formula will short-change almost all Europeans and push the majority into deeper despair.” ATHENS – The euro crisis that erupted a decade ago has long been portrayed as a clash between […]

A Chronicle of a Lost Decade Foretold – FilmsForAction & Project Syndicate

, 01/06/2020

ATHENS – To exorcise my worst fears about the coming decade, I chose to write a bleak chronicle of it. If, by December 2030, developments have invalidated it, I hope such dreary prognoses will have played a part by spurring us to appropriate action. Before our pandemic-induced lockdowns, politics seemed to be a game. Political […]

Climate change is capitalism’s Waterloo – IRISH EXAMINER

, 11/03/2020

Steven Mnuchin’s snide remark about teenage climate activist Greta Thunberg at this year’s World Economic Forum meeting in Davos outraged liberal commentators. US treasury secretary Mnuchin, responding to Thunberg’s call for an immediate exit from fossil fuel investments, said that she should go to college “to study economics” before “she can come back and explain […]

Brexit: A rational choice for the wrong reasons? – Financial News & Project Syndicate

, 11/03/2020

The motives and thinking behind Brexit were even less worthy than those behind US President Richard Nixon’s move in 1971 to ditch the Bretton Woods system. But, as with the “Nixon shock,” there is a singular underlying historical factor that explains Brexit. ATHENS – At pivotal historical moments, rational political ruptures often are brought about […]

Imagining a world without capitalism – Financial News

, 09/01/2020

Anti-capitalists had a miserable year. But so did capitalism. While the defeat of Jeremy Corbyn’s Labour party in the UK this month threatened the radical left’s momentum, particularly in the US, where the presidential primaries loom, capitalism found itself under fire from some unexpected quarters. Billionaires, CEOs, and even the financial press have joined intellectuals […]

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