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...

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.

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.

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

Preface to the (forthcoming) French edition of THE GLOBAL MINOTAUR

IMG_0195The Global Minotaur: America, Europe and the future of the world economy is about to be published in French, as Le Minotaure Planétaire, by newly established, progressive publishing house LES ÉDITIONS DU CERCLE. Read on for a draft of the Preface I composed for this French edition (which is now added to the German, Spanish, Italian, Czech, Finnish and Greek editions)… [for the translation in French, click here] Continue reading

Why is Europe not ‘coming together’ in the aftermath of the euro crisis? – audio

Europa abductionThis talk was delivered to the PhD Colloquium of the LBJ School of Public Affairs, on 6th November 2014. It was based on this article and is part of my research for my next book EUROPE UNHINGED: The next phase of the global crisis.

Why the Fiscal Compact is, legally, null and void: Interview by Giuseppe Guarino

fiscal compact nooseIn this fascinating interview, published in Corriere della Sera on 29th October 2014 and reproduced here in English, Professor Giuseppe Guarino, a former finance minister of Italy, argues that the Fiscal Compact never had a legal leg to stand on. Additionally, he also claims that, legally, the 3% deficit limit (in the Maastricht and later the Lisbon Treaties) was merely a ‘reference value’ and, under no circumstances, a ‘rule’. Professor Guarino suggests that European leaders have a unique opportunity to remove this ‘noose’ around our nations’ necks by revealing the Fiscal Compact’s, and the 3% so-called rule’s, true legal status (or absence thereof). Continue reading

MODERN MONEY: AESTHETICS AFTER THE GOLD STANDARD, UC Berkeley, Friday 7th November 2014

200_one_dollar_bills imageAn Academic Conference, sponsored by the Department of History of Art, University of California, Berkeley, November 6–7, 2014

Contact sferguson at usf.edu and jordanrose at berkeley.edu for more information.

(The image is Andy Warhol’s 200 One Dollar Bills, 1962)

Greece’s Finance Minister: The revolving doors’ syndrome on steroids

Hardouvelis phtotNow that the bubble of the Greek success story has, thankfully, burst, it is perhaps apt to take a good look at the track record of Greece’s finance minister: the talented Mr Gikas Hardouvelis. Readers that harboured hopes of a Greek turn-around (against this blog’s repeated warnings) ought to brace themselves – the finance minister’s story is not recommended reading for the faint hearted…

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Egalitarianism’s Latest Foe: a critical review of Thomas Piketty’s Capital in the Twenty-First Century

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The Real-World Economics Review commissioned a number of us to write critical reviews of Thomas Piketty’s Capital in the 21st Century.  They include, beside the over-signed, David Colander, Edward Fullbrook (who must be credited for the whole issue), James K. Galbraith, Michael Hudson, Richard Koo, Richard Parker, Ann Pettifor, and Robert Wade – see below for links to their papers.

My own contribution is entitled Egalitarianism’s Latest Foe: a critical review of Thomas Piketty’s Capital in the Twenty-First Century. (A Spanish translation is also available here.) Read on for the links to all 16 articles…

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Frances Coppola and Simon Wren-Lewis on the ‘Modest Proposal vs Austerian Federalists’

Screen Shot 2014-06-11 at 4.02.33 PMIn Whither Europe? The Modest Camp vs the Federalist Austerians James Galbraith and I attempted to chart the evolution of various plans to save the Eurozone. In that survey, we juxtaposed a Modest Camp (that includes our own Modest Proposal), whose philosophy is to promote a minimalist agenda for stabilising the Eurozone and ending its socio-economic crisis before Europe’s future can be discussed cooly and properly, against federalist plans (like those of the Piketty and Glienecker Groups) for political union. Our argument (also augmented here) was that the prescribed federalist moves are, by definition, austerian in logic and, thus, ultimately detrimental to Europe’s integrity and even its… soul.  Most recently, Frances Coppola and Simon Wren-Lewis, at the behest of Open Democracy (who published our original paper), responded to our musings. Here are their responses:

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Is Mr Draghi’s ‘turn’ significant? Is Germany ‘turning’? Can Europe escape its ‘iron cage’? Plus, on the Scottish currency plans – on Boom-Bust RT-tv

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[Jump to 3’20”] Erin Ade, RT’s Boom-Bust presenter, interviewed me yesterday on the state of Europe. We talked about the significance of Mr Draghi’s recent ‘intervention’, on whether Germany is about to change course, touched upon my article “Can Europe be saved without turning into an iron cage?” and briefly delved into Scotland’s proposal for a currency union with England if the Scots opt for independence on 18th September.

Discussing Scottish Independence and the demerits of a Sterling Union on KPFA Radio (Berkeley, CA)

ScotlandHere is a 25 minute radio interview on KPFA Radio (Berkeley CA) on the Scottish Independence question that will be decided by  Scottish voters on 18th September. (Click here and jump to 32’50” for the interview). The points raised are further supported by two previous posts: (a) Scotland Must Be Braver! and (b) If Scotland, why not Greece?