Martin Wolf wrote a new article There is no sunlit future for the euro for FT and it has nice graphs.
Very nice interview of Steve Keen. I have some issues when he gets technical, but other than that, he is very good at debunking economics, so I like him.
click to watch the video on YouTube
“Tyler Durden” also covers the video at Zero Hedge and quotes a part of the video:
fundamentally neoclassical economists are the priests of Capitalism, but the priests don’t necessarily know there is god. They have this model of god and ditto with neoclassical economics: they have a model of capitalism which is almost but not quite, completely unlike actual capitalism. And they don’t even realize that they have erected a smokescreen behind which if people want to rip the system off, then there is plenty of avenues created by these guys.
Wynne Godley wrote an article in the London Review of Books in 1992 commenting on how and why the idea of a European Monetary Union is doomed to fail. LRB today removed the “paywall” so that the article is accessible to everyone.
click to view the tweet on Twitter
FT Alphaville also wrote on this.