Yanis Varoufakis: Europe’s Crisis –The Rise of the Ultra-Right is the Left’s Fault
The recent European elections were a decisive victory for the right, and the craven, co-opted left has no one but itself to blame.
Read more...Category Archives: Macroeconomic policy
How the Troika, the WSJ and the NYT Keep the Public Befuddled About Austerity and Deflation
Deflation proves that austerity policies are failing, but the media is doing a remarkable job of keeping readers confused and ignorant.
Read more...Robert Pollin and Dean Baker Discuss the Anemic Recovery and Why Economists Don’t Recommend Real Remedies
A good discussion of why the weak economic recovery has only helped those at the very top, and why economists who know better continue to enable that.
Read more...Mathew D. Rose: When European Politicians Cannot Read the Handwriting on the Wall
Despite the alarming results of the European elections last week, Angela Merkel remained unflinching. That is a cause for concern. European politicians believe the solution to voter ire is better messaging, as opposed to a change in policy.
Read more...Bill Black: Spain’s “Stimulus” Plan – Austerity, Rebranded
Spain’s conservative government, eager to change the media’s emphasis on its repudiation in recent EU elections, has launched a media campaign stressing its adoption of an aggressive “stimulus” program. But once you get past the hype, this new program is the same old failed austerity snake oil.
Read more...Michael Hudson: The EU Parliament Elections as a Vote Against the Oligarchs
The US press and newscasts make it appear that Europeans have voted against poor immigrants and foreigners. What they voted against was the super-rich, the oligarchy.
Read more...Randy Wray: Taxes and the Public Purpose
Governments use taxes to move resources to the public sector, where they can be used to promote social goals.
Read more...Yanis Varoufakis: One Extreme Europe? On the Parliamentary Election Results
Conventional wisdom that extreme parties on the right and left won in the European Parliamentary elections. In fact, only one extreme won.
Read more...Michael Perelman: Vietnam – Invitation to a Morass
How the Vietnam War helped usher in neoliberalism, financialization of the economy, and the use of military spending as stealth stimulus.
Read more...European Voters Deliver the Revenge of the Nation-State
Were the results of the European elections a tremor or an earthquake?
Read more...Michael Perelman: The Rise of Free-Trade Imperialism and Military Keynesianism
On the economic and political origins of America’s stealth imperialism and military Keynesianism, as opposed to Keynes’ original version.
Read more...Randy Wray: What are Taxes For? The MMT Approach
MMT argues that “taxes drive money” in the sense that imposition of a tax that is payable in the national government’s own currency will create demand for that currency. Sovereign government does not really need revenue in its own currency in order to spend.
Read more...Michael Hudson: Stockholm Syndrome in the Baltics – Latvia’s Neoliberal War against Labor and Industry
How Latvia, a test case for neoliberal colonialism, has proven to be a test case of how finance-serving policies crush labor and enterprise.
Read more...Yanis Varoufakis: Virtual Worlds and the Future of Economics
Varoufakis spoke with Senior Editor Peter Suderman about what he learned as a video game economist, the failings of his chosen academic profession, and how computer games and virtual online worlds might be the future of macroeconomics.
Read more...Yanis Varoufakis: Europe’s Slide into Deflation, and What to do About It
By Yanis Varoufakis, a professor of economics at the University of Athens. Cross posted from his website. From an interview for Jornal de Negócios by Jorge N. Rodrigues Europe is in the clasp of the deflationary forces that resulted directly from its inane handling of the Eurozone crisis. In this interview, I discuss deflation and […]
Read more...