Interview with Costas Lapavitsas: Strategies for the renaissance of the left in Europe — Radical Political Economy

Costas Lapavitsas, a Professor of economics at SOAS, and briefly a Greek MP in the Syriza government, discusses the causes and evolution of the eurozone crisis, and potential strategies for the left in Europe. While I am sympathetic to his explanation of the crisis, his solution, especially for Greece, are for a new leftist nationalism in opposition to the EU. Perhaps in the absence of EU and eurozone reform this would be desirable, but it remains controversial.

The interview is at the link below, via the Radical Political Economy website.

The following interview, conducted by Darko Vujica was originally published by on June 10th 2017.

via Interview with Costas Lapavitsas: Strategies for the renaissance of the left in Europe — Radical Political Economy

John Weeks: Labour Prevented Tories from Increasing Grip on Government — Radical Political Economy

The UK general election votes have been cast, and the results are nothing short of remarkable. Contrary to the early predictions of disaster for the main opposition Labour party, and for its leader Jeremy Corbyn, it was instead Theresa May’s Conservative party that suffered a heavy blow. The conservatives lost 12 seats in parliament and […]

via John Weeks: Labour Prevented Tories from Increasing Grip on Government — Radical Political Economy

On the mixed economy

I thought this brief discussion of the ‘mixed economy’ was appropriate after the Labour Party’s surprisingly good performance in this week’s UK General Election. They did not win, but they exceeded all expectations, running on what proved to be a popular manifesto and some good campaigning by leader Jeremy Corbyn.

Their manifesto can be seen as a traditional social democratic platform, rather than a socialist one. It was against continued austerity and cuts to public services and proposed a large increase in pubic investment in infrastructure and new technology to support the development of the private sector. Having said that, it did almost match the Conservatives’ freeze on some benefits which will hit the poorest hard over the next few years, so it wasn’t all good. Continue reading

UK election: British capital in disarray — Michael Roberts Blog

The UK election result is a personal disaster for the Conservative leader Theresa May. She called the snap election to get a big majority and crush the opposition Labour party and its left-wing leadership. But instead the Conservatives lost seats and its majority in parliament and Labour under leftist Jeremy Corbyn increased its share of […]

via UK election: British capital in disarray — Michael Roberts Blog

Our resurgent enemy: authoritarian nationalism trumps neoliberalism

Institutionalist economist Geoffrey Hodgson writes a fascinating and highly informative blog entitled New Politics. This post from January discusses the authoritarian nationalist turn in world politics and the vital importance of liberalism in countering this threat. His writing is lucid, compelling, and very well-informed by lessons from history.

Although the post is more about politics than economics, from a political economy perspective, the two are more useful when analysed together. In modern capitalist economies, the role of the state is inseparable from other institutions such as the rule of law and the market.

The debate over economic policy should be thoroughly exercised in the public realm of a healthy democracy. This requires well-educated citizens open to engaging critically in such a debate, allowing space for diversity and pluralism without dictating their terms. Intolerance is present in elements of both left and right and is contrary to the liberal perspective. Continue reading

Michael Hudson on Junk Economics

More below from Michael Hudson‘s J is for Junk Economics, the major part of which is a dictionary of ideas from economics, political economy and beyond which aims to be ‘a guide to reality in an age of deception’. Hudson draws on an eclectic mix of sources to argue his case; among them, the classical political economy of Smith and Ricardo, the institutionalism of Veblen, post-Keynesianism and the little-known American School of Political Economy. He remains an independent, iconoclastic and provocative thinker and his work deserves a wide audience. Continue reading

Austerity and Germany’s Social Democrats – via econoblog101

Many of my European friends ask me about Martin Schulz and the success of social-democrats at the polls. Since they are progressive, they hope for reforms in the eurozone to curb mass unemployment, stellar youth unemployment and social problems that exist in many crisis countries. I always had my doubts if Martin Schulz was the […]

via … and austerity for all! (Martin Schulz reloaded) — econoblog101