Articles
Articles and analyses from the INET community on the key economic questions of our time.
EU refuses to acknowledge mistakes made in Greek bailout
As I write this it would be appear that the Greek crisis is finally coming to an end. In this report I would like to discuss why the negotiations were so fraught and what an agreement actually means. In a nutshell, the EU sought to address matters with the same kinds of measures that had been tried in the past, while Greece argued that doing so would not make things any better鈥攁nd would in fact make them far worse.
Grexit: The Staggering Cost Of Central Bank Dependence
The ECB has decided to maintain its current level of emergency liquidity to Greece (ECB 2015). By refusing to extend additional emergency liquidity, the ECB has decided that Greece must leave the Eurozone. This may be a legal necessity or a political judgement call, or both. Anyway, it raises a host of unpleasant questions about the treatment of a member country and about the independence of the central bank.
Europe鈥檚 Attack on Greek Democracy
The rising crescendo of bickering and acrimony within Europe might seem to outsiders to be the inevitable result of the bitter endgame playing out between Greece and its creditors. In fact, European leaders are finally beginning to reveal the true nature of the ongoing debt dispute, and the answer is not pleasant: it is about power and democracy much more than money and economics.
Thoughts On Skidelsky's Rant Against The Current Economics Curriculum
The extremely wise Robert Skidelsky has an excellent rant against Anglo-Saxon economics departments
Fixing The Financial System: Adam Smith Vs. Jeremy Bentham
How do we create a “change in culture”?
New Climate-Economic Thinking
Learning from Karl Polanyi
The old political-economic thinking of Karl Polanyi was never properly absorbed into “mainstream” North Atlantic economics: recognizing that land, labor, and finance are not really “commodities” returns institutions and social processes to the center of economic analysis.
The Coming China Crisis
Can Democracy Survive Aggressive Global Capitalism?
Rana Dasgupta shares his view of the contradictions and tensions of India’s economic and political scenes.