Democracy is an illusion! It’s become a political system fostered by the élite, for the élite, in order to fool the people that they have a stake in the system. In actual fact, they have virtually none. The whole political system in the modern era, despite having noble beginnings, is now used to benefit the few at the expense of the many. – Mark Alexander, June 29, 2018
Sunday 9 October 2016
Joseph Stiglitz: The Euro
In his latest book, Stiglitz, the 2001 Nobel Prize-winning economist, asks whether the Eurozone is united or divided by its common currency. Criticizing the European Central Bank for policies, such as austerity, that cause rather than alleviate stagnation, the former World Bank senior vice president and chief economist outlines three possible futures, showing what it would mean for Europe to make structural reforms, adapt a radical new flexibility, or dissolve.
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