This is Horrible, but it’s No Coup: Why the Greek Deal is Democratic

Greek Prime Minister Alexis Tsipras has betrayed the people of Greece by agreeing to the troika’s austerity demands. The deal is terrible and will unnecessarily inflict additional mass suffering on Greece’s unemployed (25%), youth unemployed (50%), and children living in poverty (40%). Many well-intentioned people have participated in the hashtag #ThisisaCoup, accusing the EU of overriding democracy. While I share the frustration and anger, it’s very important that we understand that this is precisely the way European voters insisted that policymakers design the European Union to work. It is the voters of Europe who have inflicted this travesty of justice upon the continent.

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Greece Should Dump the Euro

The Greek government has decided to hold a referendum on whether or not to agree to the austerity and neoliberal reforms demanded by the troika (the IMF, the ECB, and the EU). The Prime Minister, Alexis Tsipras, has implied that if Greeks vote for austerity, he might resign. I’ve written about the negotiations between Greece and the troika in the past. Since then, events have unfolded and it’s now time for Greece to make good on its threat and dump the Euro. Here’s why.

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The 3 Ways Governments Raise Money Part III: Printing

This is the conclusion of my three-part series on how governments finance themselves. The aim is to clear up the popular misconception that the state’s budget is similar to that of a corporation or a household, that government borrowing is always necessarily a bad thing. Previously we talked about taxation and borrowing–today is all about printing. Continue reading “The 3 Ways Governments Raise Money Part III: Printing” →

Who is Right about Free Trade? Barack Obama vs. Bernie Sanders and Elizabeth Warren

In recent weeks, the Trans-Pacific Partnership (TPP) is back in the news. TPP aims to lower barriers to trade among the United States and a variety of other nations including rich countries like Japan, Canada, and Australia and developing countries like Chile, Peru, Vietnam, and Malaysia. US Senator Elizabeth Warren (D-MA) has come out strongly against TPP, as has senator and presidential candidate Bernie Sanders (D-VT). President Barack Obama continues to support TPP–he recently succeeded in having the agreement fast-tracked by the senate and will likely replicate that success in the house. Once TPP is fast-tracked, congress cannot debate the treaty’s contents or make amendments to it. Is TPP good for the United States? Who is right?

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No, We Should Not Arm Ukraine

In a recent report titled Preserving Ukraine’s Independence, Resisting Russian Aggression: What the United States and NATO Must Do, the Brookings Institution in conjunction with the Atlantic Council and the Chicago Council on Foreign Affairs advise NATO to drastically increase its arms commitment to Ukraine. The report has fundamentally misunderstood the nature of the conflict in Ukraine and has consequently given governments advice that is both irrelevant and terrible. Here’s why.

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