Galbraith

9 Νovembre 2018 (Ce texte est la première partie d’une recension plus globale de l’ouvrage) L’ouvrage collectif consacré à l’économie postkeynésienne, publié sous la direction de...

Galbraith’s articles and interviews collected in this book (ending in October 2015) traces his growing exasperation at the “troika” – the European Central Bank (ECB), IMF and EU bureaucracy – which refused to loosen their demand that Greece impoverish its economy to a degree worse than the Great Depression. The fight against Greece was, in a nutshell, a rejection of parliamentary democracy after the incoming Syriza coalition of left-wing parties won election in January 2015 on a platform of resisting austerity and privatization.

I quickly read the article and was stunned. The central document was a Top Secret/Eyes Only summary memo of a July 1961 National Security Council meeting written by Howard Burris, the military aide to then-Vice President Lyndon Johnson, which was afterward deposited in the Johnson Archives and eventually declassified. The discussion focused on the effectiveness of a planned nuclear first strike, suggesting that 1963 would be the optimal date since America’s relative advantage in intercontinental nuclear missiles would be greatest at that point.

Austerity without debt relief courts new unrest in Greece By Lynn Parramore  Economist James K. Galbraith warns that ‘unrealistic expectations’ by Athens’ creditors is a recipe...