tag:blogger.com,1999:blog-6245381193993153721.post4085127263008601284..comments2024-03-28T17:08:15.784-07:00Comments on Social Democracy for the 21st Century: A Realist Alternative to the Modern Left: Unemployment in GreeceLord Keyneshttp://www.blogger.com/profile/06556863604205200159noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-6245381193993153721.post-47893861476811453512015-01-23T16:28:53.818-08:002015-01-23T16:28:53.818-08:00The whole Euro crisis has been stunning to watch u...The whole Euro crisis has been stunning to watch unfold. I never thought it could go on as long as it has. The social disaster in the PIIGS has been unbelievably appalling. It's absolutely stunning that no mainstream political parties have hit upon the idea that the Euro is the problem. It's enough to have me wondering whether democratic societies can cope with such problems without some kind of wrenching institutional change.<br /><br />Thinking further, I am reminded of the fact that the State of Michigan was in a recession continually from 2001 until 2009. There was no real recognition of a crisis there.<br /><br />Argosy Jonesnoreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-68118283160362139302015-01-23T16:27:13.702-08:002015-01-23T16:27:13.702-08:00Yanis Varoufakis, author of The Global Minotaur is...Yanis Varoufakis, author of <i>The Global Minotaur</i> is a Syriza candidate for Greek parliament Argosy Jonesnoreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-25279478645726394882015-01-23T01:43:32.060-08:002015-01-23T01:43:32.060-08:00Yes, a central fiscal authority in Europe and larg...Yes, a central fiscal authority in Europe and large-scale EU-wide stimulus would be -- but it is just grossly unrealistic under the present system.<br /><br />What should countries in the EU do now? Wait 10-30 years before some hypothetical reform might happen but let their countries be destroyed? Or leave now?<br /><br />A totally reformed EU with central fiscal authority can be built later -- when this one has been dismantled.Lord Keyneshttps://www.blogger.com/profile/06556863604205200159noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-25481920363939839142015-01-23T01:37:07.146-08:002015-01-23T01:37:07.146-08:00The best long run solution would be a fiscal europ...The best long run solution would be a fiscal european union that ends austerity. The comparison with the 1930s is striking. Back then we saw a disintegration of the world economy and now we might see the same on a european scale. Politically not wise at all. Marchttps://www.blogger.com/profile/17630348259409868551noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-84474894122094484642015-01-22T07:10:13.565-08:002015-01-22T07:10:13.565-08:00Well, even the MMTers admit that a withdrawal from...Well, even the MMTers admit that a withdrawal from the Euro will cause some short term pain too. But in the long run it should be better for Greece.Lord Keyneshttps://www.blogger.com/profile/06556863604205200159noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-72680640972254084782015-01-22T07:05:33.662-08:002015-01-22T07:05:33.662-08:00"Devastating" for whom? If Greece stops ..."Devastating" for whom? If Greece stops using the euro and goes back to its own sovereign fiat currency, according MMT people this should make its economic problems manageable again.Mark Plusnoreply@blogger.com