He even gave credit to Thatcher for her reasons to oppose the monetary union, while pointing out that as a student he participated in every demonstration against her that he could find. In January 2015, Yanis Varoufakis, an economics professor teaching in Austin, Texas, was elected to the Greek parliament with more votes than any other member of parliament. We need more books like this one. Instead, the principle of the greatest austerity for those suffering the greatest recessions has led to a resurgence of racist extremism. More: Such books only shows that some? And The Weak Suffer What They Must?. He gets right inside the fears, desires and external constraints of the key players in the complex history of the Eurozone.
And The Weak Suffer What They Must? The titular quote is from Thucydides, and refers to the Athenians mistreatment of the defeated Malians. With growth so dependent on fossil fuels whose use, as we have seen above, cannot and should not be depended on in the future , a way needs to be found to end the link between money creation and growth. The best reason for reading about economics is the way it makes you realize how little you understand about the global shifts of power and how they play out. But the storm is far from over… From the aftermath of the Second World War to the present, Varoufakis recounts how the eurozone emerged not as route to shared prosperity but as a pyramid scheme of debt with countries such as Greece, Ireland, Portugal and Spain at its bottom. He presents the ultimate case against austerity, proposing concrete policies for Europe that are necessary to address its crisis and avert contagion to America, China, and the rest of the world. At times as I read I couldn't help cheering on This book is essential reading.
If it even stays a country; my support for Scottish independence is strongly correlated with the idiocy of behaviour in Westminster. Varoufakis looks at postwar European history through the lens of global monetary policy, from Bretton Woods to the ongoing reverberations of the euro crisis. There is none of this reasoned critique from Brexiteers. But it is an eye opening book as to just how messy the politics of politics and finance can be. This is the first economics book I have read and it has made me hungry for more. I'm reminded of when I first read Joseph Stiglitz, a man who also has some comments about how the Eurozone was created to protect the interests of financial elites, but also stresses that throwing out the project would be a disaster.
That is why he was such a threat. And The Weak Suffer What They Must? I remember when some Greece government bitch I'm not sorry for that came to Lithuania to argue for their trouble. I don't know how much I buy his predictions but Yanis's analysis on the past is worth the read. The problem is that too much political capital has been invested to allow for a velvet divorce while, at once, the euro crisis is creating so many animosities among European peoples that a proper federation could not be more utopian than at present. In fact, it is not a thick fat lie to say that economics, both personal and global, has induced violent terror and paranoia in me over my three decades of breathing. Where countries are fixed to one another but expand at different rates, trade imbalances soon arise: exporting successes countered by exporting failures. The book has been a revelation for me.
If oil prices rise significantly, or if the oil supply is cut off abruptly, the transport sector will be badly undermined, and this will then bring the whole economic house of cards down. The second part deals with the 2008 financial crisis and its impact on Europe crippled by the very monetary union that was supposed to shield it when such events happen , and what the people in charge ended up doing to make it much worse. He then discusses what the euro was trying to achieve and why it was flawed from inception, before getting into the euro crisis of 2010 onwards and its specific manifestation in Greece. I was stunned by the eye-opening astuteness of his presentation and the fair judgement towards all parties involved. She studied ecological economics at Mälardalen University in Sweden, writing a masters thesis on the relationship between central banking and sustainability. Although written before Brexit it is impossible to read this book without adding the post-Brexit filter to the text.
The E-mail message field is required. But this is pure wishful thinking. Once more, Europe is a potent threat to global stability. Varoufakis is a solid historian and a enjoyable storyteller. It made it hard to follow at times since not being a European I didn't recognize all the names. Once more, Europe is a potent threat to global stability.
Knowing something about economics beforehand is helpfully, but not necessary to understand the central ideas in a the book. However, its quite clear that the current attempts at widespread internal devaluation - ie lowering wages and cutting public expenditures, such as health care, pensions, unemployment insurance,etc. Just register and complete your career summary. Book Depository is an international bookseller. This simple example demonstrates flawed Greece thought process that was created through decades of steal, lies and corruption.
Its the 2008 crisis from an european perspective and incredibly interesting and informative. From the aftermath of the Second World War to the present, Varoufakis recounts how the eurozone emerged not as route to shared prosperity but as a pyramid scheme of debt with countries such as Greece, Ireland, Portugal and Spain at its bottom. This book is a scathing indictment of the monetary union in Europe. The book is divided roughly in two parts. He delivered an interesting book. He came up with these in collaboration with Stuart Holland and James Galbraith.
Anyone who lived through the 1920s or the 1970s could see the damage it can wreak. This book would have been extremely entertaining, if not for the fact that it's terrifyingly prophetic. With passionate, informative, and at times humorous prose, he warns that the implosion of an admittedly crisis-ridden and deeply irrational European monetary union should, and can, be avoided at all cost. Neither is its object of study the plight of the eurozone. Problematically, it doesn't really take Keynes to figure out that austerity measures in the midst of the Great Recession is the single worst thing anyone can do. In fact, the book reads like a good thriller. Regardless of my personal opinion of Mr.