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Bard’s Papadimitriou on Outcomes of Greece Debt Crisis
Bloomberg Radio, June 29, 2015. All Rights Reserved. Papadimitriou provides a picture of what it’s like on the ground in Athens, where the prevailing mood is defined by “negotiation fatigue” and anxiety about the end of the bailout agreement on June 30. Greece is being asked to do the impossible, says Papadimitriou: to impose extra […] -
BlogGreek Debt Disaster Bodes Ill for Daily Life
“There are red lines in the sand that will not be crossed,” Greek Prime Minister Alexis Tsipras said just weeks ago as he began the long negotiations process with creditors. Some of these lines included no more pension cuts or value-added tax (VAT) increases, and a debt restructuring deal that incorporates renewed economic assistance from [...] -
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Martin Wolf on the UK’s Sectoral Balances
In this video segment, Martin Wolf briefly illustrates the UK’s “severe sectoral imbalances” and the dangers of the current government’s budget policy: [iframe width=”427″ height=”255″ src=”https://www.youtube.com/embed/bVU0LpZrLlk?start=2601″ frameborder=”0″ allowfullscreen></iframe] Below is what Wolf describes as his favourite chart (discussed at 48:40), which puts the UK’s public debt situation — the ostensible justification for the above-mentioned budget policy [...] -
La crisi negli USA: Il punto di vista di Jan Kregel
Economia, June 23, 2015. All Rights Reserved. All’interno del quadro economico internazionale, Jan Kregel, direttore del programma “Politica Monetaria” presso il Levy Economic Institute negli USA, analizza qual è stato il ruolo degli Stati Uniti all’interno della crisi economica. Uno degli elementi che viene messo maggiormente in evidenza, è l’ importanza data al settore finanziario, rispetto all’economia reale: ciò ha […] -
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On Demands for Greek “Reform”
Senior Scholar James Galbraith on the “reforms” being demanded by creditors (vis. pensions, labor markets, privatization, and the VAT) in the negotiations over Greece’s fate: On our way back from Berlin last Tuesday, Greek Finance Minister Yanis Varoufakis remarked to me that current usage of the word “reform” has its origins in the middle period of the Soviet [...] -
Press ReleaseNegotiating Deadlock and Insistence on Austerity Policies Further Undermine Greek Economy, New Levy Report Says
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An Ecological Future for SFC Macroeconomics?
SFC (stock-flow-consistent) economics is about watertight accounting: each model strictly accounts for all financial stocks and flows, making sure, for example, that when a change in someone’s income is assumed, all corresponding changes to other incomes and balance sheet items and their behavioral effects are taken into account. Along the same lines are [...] -
What Is Reform? The Strange Case of Greece and Europe
The American Prospect, June 12, 2015. All Rights Reserved. On our way back from Berlin on Tuesday, Greek Finance Minister Yanis Varoufakis remarked to me that current usage of the word “reform” has its origins in the middle period of the Soviet Union, notably under Khrushchev, when modernizing academics sought to introduce elements of decentralization […] -
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Time to End Europe’s Disgrace of Holding Greek People Hostage
It was never going to be easy. That much was known from the outset. Greece’s newly elected government and the country’s creditors started from too far apart to quickly settle on anything that would be easily sellable to their respective constituencies. Greece’s radical left-wing Syriza party came to power on a mandate to end austerity. [...] -
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Call for Papers: Gender and Macroeconomics Conference
Gender and Macroeconomics: Current State of Research and Future Directions A conference organized by the Levy Economics Institute of Bard College with the generous support of The William and Flora Hewlett Foundation BGIA, New York City 108 W. 39 St., Suite 1000A March 9–11, 2016 Call for Papers The goal of this conference is to advance [...] -
Idealogues Are Crippling Recovery and Undermining an Otherwise Healthy Economy
Background Briefing, June 11, 2015. All Rights Reserved. Levy President Dimitri B. Papadimitriou and Ian Masters discuss the Institute’s latest Strategic Analysis of the US economy, and how destructive political ideology is crippling recovery and undermining an otherwise healthy economy. Full audio of the interview is available here. -
Time to End Europe’s Disgrace of Holding Greek People Hostage
The Conversation, June 10, 2015. All Rights Reserved. It was never going to be easy. That much was known from the outset. Greece’s newly elected government and the country’s creditors started from too far apart to quickly settle on anything that would be easily sellable to their respective constituencies…. Read more: https://theconversation.com/time-to-end-europes-disgrace-of-holding-greek-people-hostage-42939