Thomas Piketty’s Capital in the 21st Century from a Marxist Perspective – audio

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On 6th December, I was kindly invited by the editorial board of Science & Society (the oldest continuously published journal of Marxist scholarship worldwide) to deliver a keynote to its Editorial Board’s Annual Meeting. My talk was based on a recent critical review of Piketty’s Capital in the 21st Century which can be read here. To listen to my talk, click...

How the US rolls (post-Global Minotaur) – by SLAVOJ ŽIŽEK

Enduring FreedomIn this article, aptly subtitled It’s lonely being the global policeman, Slavoj evokes a parallelism between the age of extremes that began as the British Empire was losing its grip with the present moment in history. Now that the Global Minotaur (quoting my book) is mortally wounded, “…the American century is over and we are witnessing the gradual formation of multiple centers of global capitalism”.

Zizek’s verdict? Faced with increasing uncertainty and mounting insecurity, “…the solution is not to be very careful and avoid risky acts—in acting like this, we fully participate in the logic which leads to catastrophe. The solution is to fully become aware of the explosive set of interconnections that makes the entire situation dangerous. Once we do this, we should embark on the long and difficult work of changing the coordinates of the entire situation. Nothing less will do.” Hear, hear! 

To read the full article click here or read on… Continue reading

La Grecia tradita dall’Europa: farà default – interview with F. Simonelli, for MediTelegraph

Screen Shot 2014-12-12 at 11.57.26 AMAtene – Yanis Varoufakis, stimato economista dell’Università di Atene, ha sempre avuto opinioni fuori dal coro. Sin dall’inizio della crisi greca, nel 2010-2011, ha messo in guardia sul fatto che non si trattasse di un problema locale, ma di una crisi sistemica dell’eurozona

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Ambrose Evans-Pritchard on Greece and the rise of SYRIZA – from THE TELEGRAPH

Screen Shot 2014-12-10 at 10.55.14 PMIn this powerful, balanced article, published today in conservative UK daily THE TELEGRAPH, Ambrose Evans-Pritchard makes important points on Greece and a prospective SYRIZA administration:

Events have rudely exposed the illusion that the Greek people will submit quietly to a decade of colonial treatment and debt servitude… Greece was sacrificed to buy time for the alliance, like the Spartans at Thermopylae. It was subjected to an unworkable economic experiment, in defiance of known economic science and principles. Europe’s leaders have betrayed their a special duty of care to Greece. They may at last have met their match in the ice-cool Mr Tsipras.

To read the whole article, click here.

Burst Greek Bubbles, Spooked Fund Managers: A cause for restrained celebration


vultures imagesThe international press is replete with reports of how London-based fund managers were spooked when they heard of SYRIZA’s views on the nature of Greece’s conundrum and on the party’s intention to work towards a debt restructure and a re-orientation of social and economic policies toward social cohesion and economic growth. Here is my reply…
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Bloomberg’s Clive Crook on our proposal for ECB purchases of EIB bonds

Screen Shot 2014-12-04 at 8.14.23 PMIn an article entitled “ECB should fire up its helicopters“, Clive Crook comments positively on this proposal for QE by the ECB taking the form of massive purchases of EIB bonds. The article also surveys other important ideas that would, if the political will were to be found, be helpful in the fight against misanthropic, unnecessary, stagnation. Click here or read on… Continue reading

A Program for Greece? A response to Christian Odendahl

hopeless greeceAs a general election is looming larger on the Greek horizon, commentary on a prospective SYRIZA administration is becoming more frequent. In this piece Christian Odendahl proposes ‘A Program for Greece’. The ‘Program’ is sympathetic to the view that Greece was manhandled by a bailout loan that gave it little chance of recovery and makes several proposals as to how Europe should reform its own reform efforts. As for the Greeks, Christian embraces the idea of a national unity government that will allow for these reformed reforms to be agreed by a coalition of the current government and SYRIZA, giving Alexis Tsipras’ time to ‘mature’ before possibly taking over the countries reins. Below you will find my response. Continue reading

Revisiting the Juncker Recovery Proposals – guest post by Stuart Holland

Stuart HollandRegular readers need no introduction to Stuart Holland; co-author of The Modest Proposal, former British MP and aid to Jacques Delors, responsible for starting the conversation about the Eurozone’s need for eurobonds (in… 1993), creator of the European Investment Fund and a staunch advocate of the need to turn the European Investment Bank into the Eurozone’s pillar of growth (wi the ECB remaining the pillar of monetary stability). Here he is writing, in muffled exasperation, about the frightful Juncker so-called recovery proposal. [Readers may also take an interest in Stuart’s latest book Europe in Question: And what to do about it.] Continue reading

Public Debt: How the classical economists looked upon it (wonkish) – Guest article by Nicholas Theocarakis

Screen Shot 2014-11-28 at 8.37.25 AMWith so much talk about public debt, the so-called debt crisis etc., it is perhaps time to take a close look at the history of the concept; of how public debt was born, on the evolution of its nature and, even more poignantly, of the manner in which economists have interpreted and evaluated its purpose and impact. In this encyclopaedic article Nicholas Theocarakis (colleague, co-author and dear friend) explains. Click here for his paper (which was recently presented as the closing keynote at the 4th ESHET Latin American Conference) and here for a fabulous pdf file offering glimpses of the main texts mentioned.

How can we govern Europe? Florence, 21-23 November 2014

Screen Shot 2014-11-19 at 12.54.17 PMConference participants include (in order to presentation): Richard Koo (Chief economist, Nomura Research Institute), Vítor Constâncio (Vice President ECB), Bill Mitchell (Centre of Full Employment and Equity), Frances Coppola (Economist, former banker), Pierre Moscovici (Commissioner for Economic&Monetary Affairs), Yanis Varoufakis (Universities of Athens and Texas at Austin), Thomas Mayer (Senior Fellow at the Center of Financial Studies at Goethe Universität Frankfurt).
For the complete program click here.

 

MODERN MONEY: AESTHETICS AFTER THE GOLD STANDARD (video), UC Berkeley, 7th Nov. 2014

Screen Shot 2014-11-17 at 11.30.50 PMClick the image above to watch a 60′ keynote on Money, and its Aesthetics, after the Gold Standard, following by a presentation by Danae Stratou of her remarkable installation ‘It’s Time to Open the Black Boxes’ – click here for a full description (and pictures and video) of that work.

 

Was Maastricht another Versailles for the German nation? A reply to Klaus Kastner

versaillesKlaus Kastner suggests that Germans cannot sympathise with my analogy of the Greek Bailout as a new Versailles Treaty because many, in Germany, feel that Maastricht was another Versailles Treaty imposed, by France, upon them. While there is no doubt that France tried, and failed, to adopt a predatory attitude toward Germany (and toward the Bundesbank in particular), the Maastricht-Versailles analogy is unsustainable and patently incorrect – in sharp contrast to the Greek Bailout-Versailles parallelism which is spot on.  Continue reading

CRUSH THE GREEKS! The Greek bailout revisited in the light of the Geithner revelations

geithnerTim Geithner is now on the public record,[1] confirming that which we have always known: In February 2010, clueless as to the Euro Crisis that was about to engulf them, Northern European leaders decided to crush Greece. Collectively to punish (against even the Geneva Convention) a nation for having gone bankrupt within a Eurozone whose architecture never took into consideration the possibility that a member-state could become insolvent. 

“We’re going to teach the Greeks a lesson. They are really terrible. They lied to us. They suck and they were profligate and took advantage of the whole basic thing and we’re going to crush them.’ [That] was their basic attitude, all of them.”

Geithner’s reaction, to such talk, was not concern over the Greeks’ impending ‘crushing’ but that the Northern Europeans were, in the process of crushing the Greeks, about to shoot themselves in the foot. As I was writing in 2010 (in an article entitled ‘A New Versailles Haunts Europe’):… Continue reading