PowerSwitch

Fascinating hour's talk by this brilliant man, Realistic Utopias versus Dystopic Realities.

Some great phrases he comes out with: "mathmatesised theology"; "bankruptocracy" and so on. I look forward to his next book.

Source

I'm not sure how brilliant he can be when he advocates that Greece stays in the euro and Europe despite all the havoc that it causes for the Greek economy. What's he on or what's he getting out of it besides an audience to preach to?

The euro isn’t the problem, just as the dollar isn’t a problem for (say) Minnesota.

The Euro isn't the problem but being in the Eurozone is if your economy in't in sinc with Germany's. If your economy requires a high rate of interest while Germany requires a low rate you are going to get the low rate and this is precisely what happened in Greece. Borrowing was too easy and cheap in Greece but the Grrek government couldn't put their interest rate up. Bingo!! Too much lending and the banks couldn't take it when the downturn came. We would be in just the same position if we were forced into the Eurozone which is one of the main reasons I want out of the EU.

emordnilap wrote:The euro isn’t the problem, just as the dollar isn’t a problem for (say) Minnesota.

That's because Minnesota is in the United States of America (the clue's in the name) where central fiscal policy can offset structural differences between Minnesota and Miami.

Are you arguing for a United State of Europe? If so, good luck with that, you should form a party and stand on that manifesto. However, so long as the internal populations of the existing nations of Europe do not agree with you, it's not going to happen. Or, at least, it is not going to happen democratically. Do you think it should happen non-democratically?

Little John wrote:

emordnilap wrote:The euro isn’t the problem, just as the dollar isn’t a problem for (say) Minnesota.

That's because Minnesota is in the United States of America (the clue's in the name) where central fiscal policy can offset structural differences between Minnesota and Miami.

Are you arguing for a United State of Europe? If so, good luck with that, you should form a party and stand on that manifesto. However, so long as the internal populations of the existing nations of Europe do not agree with you, it's not going to happen. Or, at least, it is not going to happen democratically. Do you think it should happen non-democratically?

Yes, the “recycling� of surpluses Keynes wanted.

Varoufakis is the one arguing, not me. His premise, though, is that monetary union cannot come before international union. On this, he’s with Thatcher.

In his lecture, he’s exploring what post-capitalism could look like, knowing that there are others out there doing the same, though not for our benefit.