New Statesman interview: The Left’s duty after Trump’s awful victory

screen-shot-2016-11-15-at-15-18-23

Screen Shot 2016-11-15 at 15.19.53.png

I had no doubt Donald Trump would win, just like I had no doubt Brexit would happen, so maybe I’m not as shell-shocked as you,” says Yanis Varoufakis. The former Greek finance minister is speaking to me several days after the Republican candidate’s historic victory. He doesn’t sound smug about being so prescient, more resigned, deflated, defeated. The left has been here before. Continue reading

Trump, our post-modern 1930s and DiEM25’s moment

Screen Shot 2016-11-11 at 20.02.58.pngScreen Shot 2016-11-11 at 20.03.27.png

[Originally published here]

The election of Donald Trump symbolises the demise of a remarkable era. It was a time when we saw the curious spectacle of a superpower, the US, growing stronger because of – rather than despite – its burgeoning deficits. It was also remarkable because of the sudden influx of two billion workers – from China and Eastern Europe – into capitalism’s international supply chain. This combination gave global capitalism a historic boost, while at the same time suppressing Western labour’s share of income and prospects. Continue reading

Why America still matters

Screen Shot 2016-11-10 at 14.08.38.pngWhy is America still important? Below I copy the answer I gave in 2011 in the last chapter of The Global Minotaur: America, Europe and the Future of the World Economy. (For those not familiar with the economic meaning of my Minotaur allegory, read this.) Today, as the Trump Presidency looms, I fear that that conclusion is even more pertinent… 

[Excerpt from Chapter 9] Continue reading

Resisting Resentment Politics Down Under – guest post by Paul Tyson

oz

How owning our Resentment can save Australian Politics

In this piece, Paul Tyson, honourary Research Fellow at the University of Queensland, outlines his take on the rise of rightwing populist resentment, as a powerful political force, from an Australian perspective.

Continue reading

Trump’s Triumph: DiEM25 on how progressives must react

PicassoGuernica.jpg

Donald Trump’s victory marks the end of an era when a self-confident Establishment preached the end of history, the end of passion and the supremacy of a technocracy working on behalf of the 1%. But the era it ushers in is not new. It is a new variant of the 1930s, featuring deflationary economics, xenophobia and divide-and-rule politics.

Continue reading

How the EU’s Greek Tragedy Became a British Farce – by James K. Galbraith

Screen Shot 2016-11-05 at 17.57.34.png

[Originally published in Zocalo]

British citizens took to the polls to cast their “Leave” ballots—and their grievances—in the now-infamous Brexit vote last June, seeking to escape the overarching power of the European Union. Their triumph stunned British and global elites, but shouldn’t have; the odds were stacked in the Leave camp’s favor.

Continue reading

PSOE’s Penchant for Repeating PASOK’s Disappearing Act – El Diario (English & Spanish texts)

Screen Shot 2016-06-25 at 10.53.23

Pedro Sánchez: No me da vértigo ser presidente del Gobierno. Me da respeto

el PASOK mordió el polvo por participar en el derrocamiento de su líder y, curiosamente, el PSOE ha tomado el mismo camino. EFE

Screen Shot 2016-11-02 at 07.05.35.png

[For the El Diario site click here]

History may repeat itself but never as quickly or as mindlessly as it does within Europe’s social democratic family. Spain’s socialists jettisoned Pedro Sánchez to allow Mariano Rajoy to form government as if in a bid to replicate the disappearing act of their Greek counterparts, the once formidable PASOK. Continue reading

The Universal Right to Capital Income – Project Syndicate op-ed

Screen Shot 2016-01-28 at 16.54.28

Screen Shot 2016-10-31 at 14.29.27.pngATHENS – The right to laziness has traditionally been only for the propertied rich, whereas the poor have had to struggle for decent wages and working conditions, unemployment and disability insurance, universal health care, and other accoutrements of a dignified life. The idea that the poor should be granted an unconditional income sufficient to live on has been anathema not only to the high and mighty, but also to the labor movement, which embraced an ethic revolving around reciprocity, solidarity, and contributing to society. [To read on click here.]

Europe’s Ugly Future: A review of Varoufakis, Galbraith & Stiglitz – Foreign Affairs

Muddling Through Austerity

In This Review

Continue reading

How do you solve a problem like Europe? Interviewed by Eurofinance

Friday 23/9/2016 (click here for the Eurofinance site & here for a related Keynote speech)

How long can Europe go on like this? In mid-July Germany sold €4.038bn of 10-year zero-coupon bonds with a yield of minus 0.05 per cent. This added a few more billions to the more than €4.25 trillion euros-worth of euro-zone government bonds that now carry a negative yield. These yields and the ECB’s €80-billion a month quantitative easing policy have now infected non-government markets. According to Bank of America, the highest-rated euro-denominated senior and secured debt of non-bank companies maturing in one to three years yield an average minus 0.08 percent. And there’s no obvious way out: at the ECB’s July meeting the bank kept the main refinancing rate and the deposit rate at record lows of zero and minus 0.4 per cent.

Continue reading

Impressive list of elected DiEM25 Coordinators & Advisors has been announced

Leading activists, artists, scholars and political figures take central role in DiEM25Screen Shot 2016-10-05 at 11.11.26.png

Linguist Noam Chomsky, novelist Elif Shafak, artist/musician Brian Eno, activist Zoe Gardner and fashion designer/environmental activist Vivienne Westwood are amongst those elected by DiEM25’s members to coordinate the movement’s activities. (See full announcement at DiEM25.org). Continue reading