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Dollarization of the Eurozone?

Is an erosion of the monetary and financial autonomy of the EU underway? John Grahl tracks indices of informal dollarization through the credit markets that may be undermining the coherence of the Eurozone.

Beyond Redistribution?

John Grahl on Philippe Askenazy, Tous rentiers! Contra Piketty’s fiscal prescriptions, a French economist’s recipe for reducing inequality through re-mobilization of labour and critique of ‘propertarian’ ideology.

A New Economics

John Grahl on Anwar Shaikh, Capitalism: Competition, Conflict, Crises. An ambitious recasting of economic thought, from classical political economy to the mathematized present, in a synthesis aiming at realistic capture of the vicissitudes of contemporary capitalism.

A Capitalist Contrarian

John Grahl surveys the work of dissident French economist Jean-Luc Gréau. Centre-right critique of the ascendancy of financial markets and unorthodox solutions for the global economic crisis.

Measuring World Disorders

John Grahl on Michel Aglietta and Laurent Berrebi, Désordres du capitalisme mondial. A prescient état des lieux of the global economy, identifying its imbalances and possible future trajectories.

The Sway of Finance?

John Grahl on Gérard Duménil and Dominique Lévy, Crise et sortie de crise: ordre et désordres néolibéraux. A Marxist exploration of the sea changes in the world economy since the seventies.

Globalized Finance

Can stakeholder variants of capitalism in east Asia or Europe resist the rise to global dominance of Anglo-American shareholder value? John Grahl argues that ‘exit’ trumps ‘voice’—disembedded forms of corporate finance are inherently more capable of spreading uniformly round the world than embedded ones, which remain particular to local settings. The misfortunes of the euro as a portent of US pressures to come.

Renewing the Left

“The two works under review make important contributions to the reformulation of Left perspectives in the light of the failure of traditional models, whether communist or social-democratic. Elmar Altvater seeks to renew the critical force of the Marxist tradition in the face of the now universal dominance of . . .” read more

Economies Out of Control

“At the end of the 1980s a word was pronounced in London and New York which had virtually dropped out of economic vocabulary at the start of the decade—stagflation. The Reagan and Thatcher booms are over and their successors have been left to grapple with a legacy of . . .” read more

The Cost of Neo-Liberal Europe

“Throughout the present decade, neo-liberal economic strategies—interacting with intense competitive pressures on world markets—have sought to remodel the capitalisms of Western Europe. In the context of mass unemployment the drive towards a renewed subordination of workforces has found unity and direction in the demand for labour flexibility, while . . .” read more