I Agree

July 21, 2015

Yes. I agree.

The negotiations concerning the Greek bail-out were absurd. They showed in vivid highlight just how foolish the entire Euro exercise is. Countries with economies as varied as those of Europe ought not bind themselves together without going the whole way into some sort of federal political and budgetary union. That would allow [more…]

Memoirs from Beyond the Tomb

July 14, 2015

Right at the end of his book called "Memoirs from Beyond the Tomb" Chateaubriand gives us a remarkable insight into our current troubles. I wonder whether we will solve them or whether we will simply write an addendum to his book.

He asks, for instance:
"Is it possible for a political system to subsist, in [more…]

Greece 2

July 13, 2015

Well so much for that.

Where do I begin?

The so-called deal announced yesterday achieves none of its objectives. The written objectives that is. The unwritten ones we will get to in a moment.

There is no doubt in my mind that the Greek economy suffers from a surfeit of inefficiencies. It cannot sustain the [more…]

Greece

July 7, 2015

So we reach the end. Good. Let democracy and popular government prevail. The entire Euro project was conceived by a small group of elitist technocrats, then foisted on national peoples often without any ability on the part of the people to veto it.

The crisis in Europe is an echo of the crisis here in the US. [more…]

Hayek v Keynes

June 17, 2015

I am giving a talk soon about the famous, and widely discussed, 'debate' between Hayek and Keynes back in the 1930's. It is much travelled ground so novelty is not my aim. Just some clarity. These are [incomplete] notes to myself to help along the way.

Let's begin with what I call the 'Robbins Paradox':
"That [more…]