IT is obviously silly to push for austerity in the midst of a recession, not just silly but cruel, since it prolongs the pain of unemployment. The recession is caused by a deficiency of aggregate demand. To overcome it what is necessary is an increase in demand which...
The ongoing eurozone crisis is often projected in the media, somewhat superficially, as wholly the product of Greece’s financial profligacy. There are, however, more fundamental reasons for this turmoil. The causes are to found, as the following analysis shows,...
Conversation with Özlem Onaran From the start, the neoliberal project in Europe was marked by a striking pro-capital redistribution of income, wealth and power. This seemed to be a good solution to overcome the profitability crisis, but it sowed the seeds of another...
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