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Accidental Deliberations: Wednesday Morning Links

Miscellaneous material for your mid-week reading.

- Tavia Grant is the latest to note that the potential for driverless vehicles necessitates some consideration as to how to account for people who currently rely on driving jobs. And Vivek Wadhwa makes the case for a new form of capitalism which isn’t designed to leave people behind: Countries such as India and Peru and all of Africa will see the same benefits — for at least two or three decades, until the infrastructure has been built and necessities of the populations have been met.

Then there will not be enough work even (Read more…)

Accidental Deliberations: Tuesday Morning Links

This and that for your Tuesday reading.

- Joseph Stiglitz discusses how Greece has been turned into a sacrificial lamb at the altar of austerian economics: Austerity is largely to blame for Greece’s current depression — a decline of gross domestic product of 25 percent since 2008, an unemployment rate of 25 percent and a youth unemployment rate twice that. But this new program ratchets the pressure up still further: a target of 3.5 percent primary budget surplus by 2018 (up from around 1 percent this year). Now, if the targets are not met, as they almost surely won’t (Read more…)

Political Eh-conomy: Where is Canada’s mild Keynesian alternative?

You know something is up when the social democrats are trailing the centrist pundits on the economy. The space for a just a mild Keynesian alternative in Canada is wide open. Such an alternative, however, needs a political rather than merely a technocratic push.

Here is a fragment of a piece that just appeared in Canadian Business magazine and is typical of recent centrist commentary:

No one would counsel a return to unchecked spending. But the magical thinking around balanced budgets should stop. Canada’s debt is a sunk cost, not an anchor. The IMF now advises that countries with enough fiscal (Read more…)

Michal Rozworski » Political Eh-conomy: Where is Canada’s mild Keynesian alternative?

You know something is up when the social democrats are trailing the centrist pundits on the economy. The space for a just a mild Keynesian alternative in Canada is wide open. Such an alternative, however, needs a political rather than merely a technocratic push.

Here is a fragment of a piece that just appeared in Canadian Business magazine and is typical of recent centrist commentary:

No one would counsel a return to unchecked spending. But the magical thinking around balanced budgets should stop. Canada’s debt is a sunk cost, not an anchor. The IMF now advises that countries with enough fiscal (Read more…)

Accidental Deliberations: Sunday Morning Links

This and that for your Sunday reading.

- Greg Keenan exposes how corporations are demanding perpetually more from municipalities while refusing to contribute their fair share of taxes to fund the services needed by any community. And Sean McElwee points out how big-money donations are translating into a warped U.S. political system: Available data reveals that donors not only have disproportionate influence over politics, but that influence is wielded largely to keep issues that would benefit the working and middle classes off of the table.

Do donors really rule the world? Recent research suggests that indeed they do. Three (Read more…)

Parchment in the Fire: Why Greece’s ritual humiliation won’t kill off Europe’s revolutionary Left – Telegraph

Why Greece’s ritual humiliation won’t kill off Europe’s revolutionary Left – Telegraph.

Filed under: Eurozone crisis Tagged: Austerity, European left, Eurozone Crisis, Greece, Syriza

Political Eh-conomy: “Can ‘people over profits’ become a reality in Greece?”

This is the full transcript of my podcast interview with John Milios; it appeared earlier this week in Jacobin. John is a prominent figure within Syriza; he was the party’s chief economic advisor until earlier this year and is also a member of the party’s central committee, one of the 109 who signed a letter last week opposing the new memorandum.

Here, he discusses Greek Prime Minister Alexis Tsipras’s decision to hold the July 5 referendum, the anti-austerity course not taken by Syriza, and how the slogan “people over profits” can become a concrete reality in Greece.

Michal Rozworski: What is the (Read more…)

Michal Rozworski » Political Eh-conomy: “Can ‘people over profits’ become a reality in Greece?”

This is the full transcript of my podcast interview with John Milios; it appeared earlier this week in Jacobin. John is a prominent figure within Syriza; he was the party’s chief economic advisor until earlier this year and is also a member of the party’s central committee, one of the 109 who signed a letter last week opposing the new memorandum.

Here, he discusses Greek Prime Minister Alexis Tsipras’s decision to hold the July 5 referendum, the anti-austerity course not taken by Syriza, and how the slogan “people over profits” can become a concrete reality in Greece.

Michal Rozworski: What is the (Read more…)

Parchment in the Fire: Euros discarded as impoverished Greeks resort to bartering | World news | The Guardian

Euros discarded as impoverished Greeks resort to bartering | World news | The Guardian.

Filed under: Eurozone crisis, Greece Tagged: Austerity, Eurozon Crisis, Greece

Accidental Deliberations: Monday Morning Links

Miscellaneous material for your Monday reading.

- Anna Leventhal warns against the danger that even the best-intentioned of charity drives might be seen as replacing the need for social supports: Now campaigns are ubiquitous, and range from book tours to pet surgeries to basic subsistence for marginalized people in crisis. But with crowdfunding increasingly called on to plug the holes left by funding cuts (consider that in 2014 Canadians pledged over $27 million to Kickstarter alone, and that from 2013 to 2014 the amount crowdfunded globally jumped from US$6.1 billion to US$16.2 billion), the stakes are getting higher (Read more…)

Political Eh-conomy: Podcast: Syriza’s John Milios, “I will continue to fight against austerity”

https://politicalehconomy.files.wordpress.com/2015/07/podcast150720-greece-milios.mp3

 

Greece continues to be in flux. Two weeks ago, the Greek people voted over 60% No in a referendum on further austerity. One week ago, the Greek government agreed to a new Memorandum in principle after an all-night negotiation, described at times as “mental water-boarding”. Finally, last Wednesday, the first pieces of enabling legislation were passed by the Greek Parliament with a large rebellion of Syriza MPs voting against the laws.

Since then debate has raged in and outside Greece about the future of the Eurozone, the political strategy chosen by the Syriza (Read more…)

Michal Rozworski » Political Eh-conomy: Podcast: Syriza’s John Milios, “I will continue to fight against austerity”

http://rozworski.org/wp-content/uploads/2015/07/podcast150720-greece-milios.mp3

 

Greece continues to be in flux. Two weeks ago, the Greek people voted over 60% No in a referendum on further austerity. One week ago, the Greek government agreed to a new Memorandum in principle after an all-night negotiation, described at times as “mental water-boarding”. Finally, last Wednesday, the first pieces of enabling legislation were passed by the Greek Parliament with a large rebellion of Syriza MPs voting against the laws.

Since then debate has raged in and outside Greece about the future of the Eurozone, the political strategy chosen by the Syriza leadership and (Read more…)

Accidental Deliberations: Friday Morning Links

Miscellaneous material for your Friday reading.

- Matthew Melmed examines how poverty early in life is both disturbingly widespread, and likely to severely affect a child’s future prospects.

- Lawrence Mishel and Alyssa Davis track the extreme gap in wage growth for CEOs as opposed to workers. Robert Skidelsky argues that we can’t rely on employment relationships to fully address poverty and inequality given the number of current jobs that will be mechanized out of existence before long. But on the bright side, Sara Mojtehedzadeh reports on Unifor’s success in achieving significant improvements in wages and schedule predictability for retail (Read more…)

Parchment in the Fire: Capitalism and Democracy in Greece

There has been no paucity of allusions to Greek tragedy when discussing the current negotiations between Greece and its European creditors: Syriza caught between Scylla of austerity and the Charibdas of ‘Grexit’; Greece’s Sisyphean task of paying down its debt through contractionary austerity policies; the Pyrrhic victory of the no campaign in the austerity referendum; the marathon negotiations to secure the third bail-out, etc.

Yet, another often overlooked tragedy lies in Greece’s relationship between democracy and European integration. After decades of dictatorship, civil war and foreign occupation, mainstream political parties in Greece increasingly cast their lot with the European project (Read more…)

Parchment in the Fire: Cracks in the Deal? | Jacobin

Cracks in the Deal? | Jacobin.

Filed under: Austerity, Eurozone crisis Tagged: Austerity, Eurozone Crisis, Greece, Syriza

Accidental Deliberations: Wednesday Morning Links

Miscellaneous material for your mid-week reading.

- tcnorris highlights how the Cons’ gratuitous cuts are undermining their hopes of staying in power. And Eric Pineault discusses the costs of austerity for Quebec in particular and Canada as a whole: (C)utting into spending slows down growth and keeps the economy in a stagnation trap. The resulting underemployment equilibrium puts a lot pressure on household revenues just as those same households are getting into debt. We are thus faced with a second paradox: in a stagnating economy, trying to use austerity to reduce public debt also translates into an increased burden of (Read more…)

The Progressive Economics Forum: Mr. Harper’s recession

Mr. Harper’s recession

Louis-Philippe Rochon Associate professor of economics, Laurentian University Co-Editor, Review of Keynesian Economics

 

Short of a miracle, Canada is officially in recession, which I predicted back in January. But this recession was wholly avoidable had Mr. Harper and his government abandoned their wicked policies of austerity in favour of a growth-oriented fiscal expansionary policy. Bottom line: this is a Harper recession.

The economic follies followed by Prime Minister Harper in his nine years in office amount to a complete rejection of common sense. Except for a maybe one year, Mr. Harper has voluntarily and aggressively followed (Read more…)

Parchment in the Fire: IMF Demands Debt Relief for Greece

In a rather surprising turn of events today, the IMF has released a statement demanding debt relief for Greece. This vindicates Varoufakis’ position that Greek debt was unsustainable, positions the IMF against Germany and its allies, and finally brings the IMF into line with its own research – research that has been leaking out over the past couple of weeks. I haven’t had a chance to go over the details, but the New York Times has published the full text, copied below.

GREECE: AN UPDATE OF IMF STAFF’S PRELIMINARY PUBLIC DEBT SUSTAINABILITY ANALYSIS

Greece’s public debt has become highly unsustainable. (Read more…)

Accidental Deliberations: Tuesday Morning Links

This and that for your Tuesday reading.

- Jim Stanford highlights how the Cons are focused on exactly the wrong priority in pushing for cuts at a time when Canada’s economy is in dire need of a jump-start: In the grand economic scheme, a deficit incurred as the economy slows is neither surprising nor undesirable.  But the Tories’ commitment to deficit elimination, no matter what, is all about politics.  First, it justified the big “social engineering” tax cuts (income splitting, so-called child support, etc.) that they announced last year as the centrepiece of their re-election campaign.  (Read more…)

Parchment in the Fire: A Soft Coup in Greece

Filed under: Eurozone crisis Tagged: Austerity, debt, Eurozone Crisis, Greece, Syriza

Parchment in the Fire: #ThisIsACoup

Filed under: Eurozone crisis Tagged: Austerity, Eurozone Crisis, Greece, Syriza

Parchment in the Fire: After Greece and Spain, the rise of anti-austerity in Ireland

After Greece and Spain, the rise of anti-austerity in Ireland.

Filed under: Austerity Tagged: Austerity, Eurozone Crisis, Ireland

Michal Rozworski » Political Eh-conomy: Austerity insanity: on the Greek proposals

Alternate title: #Gruster#$%k. My most recent piece from Ricochet on Syriza’s proposed austerity package.

There is acrimony and division in Athens, after the Syriza government submitted a revised list of proposals to its creditors. Despite a resounding victory in last Sunday’s referendum for Oxi — the “no” vote rejecting creditor demands that Greece fall in line — the government has presented austerity measures that exceed those previously on the table.

Despite dissension within the ranks of Syriza, the Greek parliament approved the government’s proposals in a bitter debate and vote that stretched into early Saturday morning.

The proposal now includes (Read more…)

Political Eh-conomy: Austerity insanity: on the Greek proposals

Alternate title: #Gruster#$%k. My most recent piece from Ricochet on Syriza’s proposed austerity package.

There is acrimony and division in Athens, after the Syriza government submitted a revised list of proposals to its creditors. Despite a resounding victory in last Sunday’s referendum for Oxi — the “no” vote rejecting creditor demands that Greece fall in line — the government has presented austerity measures that exceed those previously on the table.

Despite dissension within the ranks of Syriza, the Greek parliament approved the government’s proposals in a bitter debate and vote that stretched into early Saturday morning.

The proposal now includes (Read more…)

Parchment in the Fire: The Alternative to Austerity | Jacobin

The Alternative to Austerity | Jacobin.

Filed under: Austerity, Eurozone crisis Tagged: Austerity, Eurozone Crisis, Greece, Syriza