Books
Debt, Europe, Greece and the World Economy: Addressing the Kreisky Forum, Vienna, Wednesday 5th December 2012
, 02/12/2012
Anyone in Vienna this coming Wednesday (5/12/2012)? If so, perhaps you may pop in at the Kreisky Forum to hear me address: THE GREEK CRISIS AND THE EUROPEAN TRAGEDY THE DEBT CRISIS AND THE FUTURE OF THE WORLD ECONOMY For the official announcement…
China after the Global Minotaur
, 27/11/2012
This post follows up from earlier ones entitled Europe after the Global Minotaur and America after the Global Minotaur. These posts are extracts from the forthcoming new edition of The Global Minotaur.
Europe after the Global Minotaur
, 21/11/2012
This post follows up from an earlier one entitled America after the Global Minotaur. Both posts are extracts from the forthcoming new edition of The Global Minotaur. Bankruptocracy, as I have argued in Chapter 8 of my Global Minotaur, is as much of a European predicament as it is an American ‘invention’. The difference between […]
America after the Global Minotaur
, 15/11/2012
In an earlier post, I explained that the global economy is in dire straits because the United States is no longer able to recycle the Rest of the World’s surpluses. Today I turn the spotlight on the US economy per se, in the aftermath of the Global Minotaur’s demise. (For readers not familiar with this […]
A world without the Global Minotaur: Why is the world economy failing to recover?
, 10/11/2012
Almost two years have passed since the first edition of The Global Minotaur was written. Its prognosis for our tormented beast was not good. Have events since confirmed that the Global Minotaur’s wounds were too deep to allow it to continue to perform its miraculous global surplus recycling? Is this still the best explanation available […]
Monday 29th October, in the House of Parliament, London, debating "European and Global Recovery – What Will It Take?"
, 25/10/2012
Next Monday, the European-Atlantic Group is organising a debate in the Grand Committee of the House of Commons, on what it will take for Europe and the world to return to growth and end the Crisis which began in 2008. In the Chair: The Rt Hon The Lord Hamilton of Epsom Speakers: Professor Marcus Miller, (Professor of […]
Discussing Greece and Europe on Business Spectator; interviewed by Robert Gottliebsen
, 25/10/2012
Robert Gottliebsen, one of Australia’s leading business and economics journalist, interviewed me recently in Melbourne for Business Spectator. Like many anglosaxon business commentators, Robert clearly thinks that Greece is facing an impossible future within the Eurozone and that it would be better off leaving the currency union. In this interview, he began by asking me […]
The worst enemies of European unity are those who profess to serve it: Address at the CPA Sydney Conference, 2012
, 25/10/2012
Last week, Norman Lamont and I addressed the CPA 2012 Conference in Melbourne. Yesterday we repeated that ‘gig’ in Sydney. Unwilling to deliver the same speech as in Melbourne (which was posted here), I chose to discuss the Euro Crisis from a slightly different angle (with very few overlapping paragraphs). As this was a closed-to-the-public […]
On the Euro-Global Crisis: Four lectures in Australia and one in London, October 2012
, 11/10/2012
During the coming next fortnight, I shall be on a lecture tour of Australia and Britain. The first lecture will be delivered on Monday 15th October in Melbourne, at the Greek Community Centre (which will, fittingly, be demolished soon after!). Then, I shall be speaking at two CPA conferences, together with Lord Lamont (formerly Chancellor of the Exchequer) in […]
Audio of talk at Columbia Law School on the Causes and Nature of the Euro Crisis, 5th October 2012
, 11/10/2012
While the Columbia University technicians are preparing a proper podcast of my debate with Marshall Auerback (held last Friday, 5th October) on the Euro Crisis at the Columbia Law School, readers can have a pre-hearing (as opposed to a preview) of my presentation. The audio is reasonable and can be heard here: YV talk Columbia […]
The Global Minotaur returns: Introducing the second edition
, 06/10/2012
The second edition of my Global Minotaur has entered the presses, so to speak. At least, it has left my laptop and is now with the folks at Zed books, awaiting production. The point of working toward a second edition was to ask a simple question: Since January 2011, which is when I put the […]
A Hobson’s Choice for Europe? Reply to Tom Hirst’s piece on ‘What Needs To Be Done’ in the Eurozone
, 26/09/2012
Tom Hirst, of Mindful Money, has posted a thoughtful piece on the Euro Crisis, with special emphasis on the deathtrap that Spain is now in. His analysis of the situation is spot on: so far, Europe’s responses to the Crisis have been piecemeal, disconnected from one another, and based on the denial that this is […]
Austerity-stricken Europe within a slowing global economy
, 24/09/2012
Click here for Mariana Mazuccato’s Bloomberg interview on the trouble with Europe’s austerian turn. And here for an article in Fund Strategy on the Great Global Slowdown (featuring the Global Minotaur).
Why is the Global Crisis so persistent? Q&A with Ben Hunt (of Fund Strategy) on the themes of the Global Minotaur
, 21/09/2012
Ben Hunt, of FUND STRATEGY, posed eight poignant questions to me concerning the continuing Global Crisis and touching upon various themes from my Global Minotaur. Here is a taste of the soon to be published interview: 1. What is your understanding of what has been driving the growth in the world economy (the “engine of […]
In Praise of Public Investment: On the importance of Mariana Mazzucato’s article in The Guardian
, 03/09/2012
Two are the greatest untruths that have inflicted major damage upon our understanding of how social economies work; and, by extension, upon our societies. First, there is the pseudo-‘law’ of ‘crowding out’; i.e. the illusory belief that when public investment increases private investment suffers. Secondly, there is a widespread misconception that, under capitalism, value is […]
The Global Minotaur just published in Italian
, 29/08/2012
The Global Minotaur has just been published in Italian under the title Il Minotauro Globale: L’America, le vere origini della crisi e il futuro dell’economia globale. Thanks to my Italian publisher for this opportunity to reach a wider audience in yet another proud nation that is continuing, with increasing intensity, to feel the repercussions of the […]
Latest Q&A on our Modest Proposal:
, 19/08/2012
Mindful Money has just published an interview in which I answer three of their questions on the Modest Proposal and its differences from the plan to bolster the Eurozone by granting a banking licence to the EFSF-ESM. Click here for the complete article or read on for the barebones Q&A…
What Mr Draghi should be aiming at: Or how to move from Ponzi Austerity to Rational Crisis Management by a stepwise implementation of the Modest Proposal
, 17/08/2012
Ponzi growth happens when unsustainable capital flows, wilfully predicated upon funding schemes that Reason knows to be fraudulent, give rise to large spurts of economic activity. Ponzi austerity, in contrast, is what happens when unsustainable spending cuts, wilfully predicated upon funding schemes that Reason knows to be fraudulent, cause significant drops in economic activity. (Click […]
A Modest Proposal for Resolving the Euro Crisis: an abridged version as published by the Financial Times On Line
, 17/08/2012
by Yanis Varoufakis[1] and Stuart Holland[2] (click here for the full version of our Modest Proposal) The Eurozone is disintegrating under the weight of three intertwined crises unfolding in the realms of banking, public debt and under-investment & internal imbalances. For two years each and every response by Europe’s leadership to the crisis proved consistently underwhelming. The [...]Convertibility Risk: Acknowledged but not addressed
, 06/08/2012
Further to my previous post on Mr Draghi’s recent undermining of the Office of ECB President, Gavyn Davies of the FT penned the following line: “It is risky for a central banker to acknowledge that the payments system on which the currency stands may not be fully credible. Mr Draghi could simply have repeated the old […]
Depression in the Eurozone’s Periphery and how to restore Aggregate Demand without creating new bubbles: My reply to Kantoos Economics
, 30/07/2012
Preamble: Kantoos Economics recently posted an article discussing points of agreement and points of disagreement between us regarding the restoration of growth in Greece, both in the short and in the long run. Here is my reply. The problem with any Crisis is that it eliminates the type of scarcity which helps two crucial markets […]
Review of the Global Minotaur by Raja Junankar, for the ELRR
, 16/07/2012
This review of the Global Minotaur (click here for the Global Minotaur page) is special to me. The reason? Raja Junankar was one of the lecturers at the University of Essex while an undergraduate, back in the mists of time (1978-1981). Later, when I returned to Essex (after a year at Birmingham University), it was Raja who […]
'The Global Minotaur': A 'Great Transformation' for our Times – Review by Boris Stremlin for Left Eye On Books
, 12/07/2012
Left Eye on Books just published a generous and detailed review of my Global Minotaur authored by Boris Stremlin.
Unanimity is not essential to cutting the ‘Gordian debt’: our letter to the FT as published today
, 02/07/2012
The other day I posted a letter that Stuart Holland and I sent to the Financial Times. Today it was published. Click here for the FT or…