[In May 2013 I had the pleasure of addressing the 6th Subversive Festival in Zagreb on this topic. It is only now that I have managed to write up that talk and to expand it in some significant ways.]
Europe is experiencing a slump that differs substantially from a ‘normal’ capitalist recession, of the type that is overcome through a wage squeeze which helps restore profitability. This secular, long-term slide toward asymmetrical depression and monetary disintegration puts radicals in a terrible dilemma: Should we use this once-in-a-century capitalist crisis as an opportunity to campaign for the dismantling of the European Union, given the latter’s enthusiastic acquiescence to the neoliberal policies and creed? Or should we accept that the Left is not ready for radical change and campaign instead for stabilising European capitalism? This paper argues that, however unappetising the latter proposition may sound in the ears of the radical thinker, it is the Left’s historical duty, at this particular juncture, to stabilise capitalism; to save European capitalism from itself and from the inane handlers of the Eurozone’s inevitable crisis. Drawing on personal experiences and his own intellectual journey, the author explains why Marx must remain central to our analysis of capitalism but also why we should remain ‘erratic’ in our Marxism. Furthermore, the paper explains why a Marxist analysis of both European capitalism and of the Left’s current condition compels us to work towards a broad coalition, even with right-wingers, the purpose of which ought to be the resolution of the Eurozone crisis and the stabilisation of the European Union. In short, the paper suggests that radicals should, in the context of Europe’s unfolding calamity, work toward minimising the human toil, reinforcing Europe’s public institutions and, therefore, buying time and space in which to develop a genuinely humanist alternative.
On RT tv answering questions such as: Is Bitcoin a tulip-like bubble? Is it a currency? Is there room for competitors like Litecoin? Why are these digital currencies inherently deflationary? (For more on the subject read Bitcoin and the Dangerous Fantasy of Apolitical Money.)
In this interview James Galbraith explains our Modest Proposal for Resolving the Euro Crisis, argues that the Eurozone’s dismantling is a bad idea, discusses money and debt (in the context of Modern Money Theory) and, finally, comments on current developments in the US social economy. The interview was conducted by Roger Strassburg Continue reading →
The Crash of 2008 is often blamed on the Fed’s overly ‘loose’ monetary policy after 2001. In short, the argument goes, American monetary policy was too ‘loose’ for four years between 2002 and 2006; and too ‘tight’ once the Fed realised that it was presiding over an unsustainable boom. In this post the reader can read a long article (click here for the complete pdf) in which I debunk this simplistic, and fatally flawed, theory. Continue reading →
In this, the fourth article that vitalspace.org and I have contributed to the Witte de With Review (an initiative of Rotterdam-based Witte de With Center for Contemporary Art), I offer a short history of Golden Dawn, the Greek Nazi party. As with all my articles in WdW Review, the ‘take’ is always personal, intimate almost. In this piece on Golden Dawn, I begin with an encounter with an old, poor Peloponnesean farmer, some time in the 1990s, whose life revealed much about Greece’s Dark Side. Click here for The Serpent’s Greek Lair, as it appears on the WdW Review site.
(Gonda Van Steen introduced the audience to the MGSA 2013 Conference and Artemis Leontis introduced me. The talk begins at around 10′, when the audio becomes loud and clear)
The Modern Greek Studies Association (MGSA) kindly invited me to deliver its 2013 Keynote, at the MGSA biannual Conference held at Indiana University. I grabbed the opportunity to speak auto-biographically and to place the Greek and global crises in a broader context of the discursive battles raging within economics. You can listen to the talk below, click here for a pdf copy or read on for a web version of the text… Continue reading →
ABC Radio National’s ‘Big Ideas’ program has now broadcast my talk entitled The Dirty War for Europe’s Integrity & Soul (original broadcast: 30th October, 20.05 Sydney time). [Click here for details of the lecture.]
For the complete transcript click here – please note that the ABC (to fit in both the talk and the discussion the followed in 55 mins) edited out an important analytical part concerning the history of the European Union (which I use to explain why the current crisis is not resulting in a move toeard further union/integration).
Lastly, here is an earlier interview on the contents of the same lecture with Philip Adams on the ABC RN’s Late Night Live (recorded on the eve of my talk).
Economists for Peace and Security is organising a workshop on Jobs, Investment, and Rebuilding America: Economic and National Security Issues. It will take place at the Hyatt Regency, Washington DC, Capitol Hill. The keynote speech will be delivered by Jason Furman, Chair of the US Council of Economic Advisers. My involvement will concern the economic and financial risks that the Eurozone imposes upon the rest of the world. For the complete program… Continue reading →
European Political Leaders and Policy Experts to Meet for Two Days in Austin to Discuss
The LBJ School of Public Affairs of the University of Texas at Austin will host a two-day conference on the fate of the Eurozone on Nov. 4 and 5. “Can the Eurozone Be Saved?” will convene European political leaders and policy experts to examine alternative policies to keep the Eurozone intact.
Inaugural ‘Europe Public Lecture’, UWS, State Library of New South Wales, Sydney
On 23rd October 2013, I was honoured by the Department of History of the University of Western Sydney with an invitation to deliver their inaugural Europe Public Lecture. The event took place in the State Library of New South Wales, in Sydney. The talk will be transmitted by ABC Radio National’ ‘Big Ideas’ program on 30th October (watch this space for a link). You can also hear this interview, on the theme of my talk, with Philip Adams on Late Night Live. Read on for the full transcript of the talk…Continue reading →
Cooled down in the proverbial 11th hour, at least until it is brought back on the boil next January, the US debt ceiling clash puzzles Europeans and gives them an opportunity to re-asses their own leaders’ shenanigans.Continue reading →
On Saturday 12th October, I was interviewed by Geraldine Dooge for the ABC Radio National’s program ‘Saturday Extra’ on the theme of Greek claims on Germany for wartime reparations and on a strange ‘loan’ that was extracted from the Greek government by the Nazi authorities. You can hear the interview here:
Read on for an analysis of the wartime Greek loan to Germany and for a proposal on how to settle two thorny issues (the settlement of that loan and the inevitable. impending haircut of Greek debt) at once… Continue reading →