Tag Archives: Greece

A PLOG is a ´Persistent Large Output Gap´. Read: a long period of high unemployment. Literature about PLOGs tries to mitigate one of the ideas of economic orthodoxy, especially the unsubstantiated idea that lowering high post-economic crisis unemployment will fuel inflation. According to this literature, which is quite empirical, it doesn´t. However, this somewhat older literature does not yet consider the post-2009 Euro Area experience. Here, I will propose an updated definition of...

Executive summary: if investments are needed, do not reform. Invest. Investments are the reform. Angus Maddison (historical patterns of growth) and Jan Kregel (leading post-Keynesian economist) were the intellectually dominant forces during my economics study in Groningen around 1982. Let´s apply their frameworks to Greece. Growth, as we measure it, has many sources: increasing the productivity of existing activities (the mechanization of the potato harvest), shifting labour from...

The collective volume THE GREEK CAPITALISM IN CRISIS – MARXIST ANALYSES has been translated Chinese and published in China. The book was edited by Stavros Mavroudeas and includes contributions of several Greek Marxist political economists. It was originally written in English and published by Routledge. The Chinese edition was translated in the NorthWest University (in X’ian) and published by China Economics Publishers. Several presentations of the book in Chinese...

Video recording of the talk on The Greek Saga: Competing Explanations of the Greek Crisis by Stavros Mavroudeas at NYU (24/3/2023: https://nyu.zoom.us/rec/play/2GHwJC-FSrsf7nmaHjTdTaAczfWtWS0ri3LMbY7mmP51KeBeeQSV1woJ7oHMZrXDiYzsJVG4VmKTM_5K.ekQ-W6AmRv6dcA7O?continueMode=true&_x_zm_rtaid=53eI4PcRTC6y8DFQ97VYhw.1679665946920.11ab3dbc8b14c6132f01bcf9ab31a3a7&_x_zm_rhtaid=118 [embedded content] AdvertisementΡυθμίσεις απορρήτου

Angela Merkel is stepping down, and as often happens in these circumstances (or when someone of historical importance passes; see here for my review of Thatcher and Volcker obits) there is a flood of analysis of their contributions. Merkel is no exception, and most 'serious' outlets have suggested that she was a great stateswoman, and that she managed to save the euro (an honor she often shares with Mario Draghi), the European Union and provided leadership in the midst of the vacuum caused...

Michael Stephens | April 28, 2021 Senior Scholar Rania Antonopoulos recently participated in a webinar for the European Trade Union Institute, during which she discussed the rationale behind and experience with the implementation of the “Kinofelis” direct job creation program—a limited job guarantee for Greece. Watch her presentation below (accompanying slides are here). The Levy Institute’s previous Strategic Analysis for...

Michael Stephens | April 28, 2021 Senior Scholar Rania Antonopoulos recently participated in a webinar for the European Trade Union Institute, during which she discussed the rationale behind and experience with the implementation of the “Kinofelis” direct job creation program—a limited job guarantee for Greece. Watch her presentation below (accompanying slides are here). The Levy Institute’s previous Strategic Analysis for...

Yesterday (11-9-2020) I was asked by PRESS TV to comment on the current tensions between Greece and Turkey. I expressed the opinion that these tensions and war-mongering threats are coming from both sides, that is the Greek and the Turkish ruling elites. And that the peoples of Greece and Turkey have nothing to gain from this. The two ruling elites scramble for supposed oil reserves in the Eastern Mediterranean basin. The existence of these reserves is far from certain; and also, if...

The News Bulletin of PRESS TV asked for my comments on the current tensions between Greece and Turkey regarding the Exclusive Economic Zones in the Eastern Mediterranean. The video of my comments and their transcript follows. [embedded content] https://urmedium.com/c/presstv/30191 The current tensions are part of the long-running antagonism between the Greek and the Turkish ruling elites. This antagonism goes back to the formation of nation-states in the Balkan and the Eastern...

Former Greek finance minister Yanis Varoufakis told Jacobin why he’s publishing his secret recordings of the critical Eurogroup meetings of 2015 — and why the Left around Europe is struggling to overcome Syriza’s disastrous legacy. Yanis Varoufakis during his speech in Hellenic Parliament. Dimitrios Karvountzis / Pacific Press / LightRocket via Getty INTERVIEW BY George Souvlis When Syriza was voted out of...