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A world-renowned economist offers cogent and powerful reflections on one of the great avoidable economic catastrophes of the modern era
The economic crisis in Greece is a potential international disaster and one of the most extraordinary monetary and political dramas of our time. The financial woes of this relatively small European nation threaten the long-term viability of the Euro while exposing the flaws in the ideal of continental unity. "Solutions" proposed by Europe’s combined leadership have sparked a war of prideful words and stubborn one-upmanship, and they are certain to fail, according to renowned economist James K. Galbraith, because they are designed for failure. It is this hypocrisy that prompted former finance minister Yanis Varoufakis, when Galbraith arrived in Athens as an adviser, to greet him with the words “Welcome to the poisoned chalice.”
In this fascinating, insightful, and thought-provoking collection of essays—which includes letters and private memos to both American and Greek officials, as well as other previously unpublished material—Galbraith examines the crisis, its causes, its course, and its meaning, as well as the viability of the austerity program imposed on the Greek citizenry. It is a trenchant, deeply felt commentary on what the author calls “economic policy as moral abomination,” and an eye-opening analysis of a contemporary Greek tragedy much greater than the tiny economy of the nation itself.
- Sales Rank: #418879 in Books
- Published on: 2016-06-21
- Original language: English
- Number of items: 1
- Dimensions: 8.50" h x .90" w x 5.80" l, .0 pounds
- Binding: Hardcover
- 232 pages
Review
"An eloquent and informed chronicle of the Greek debt crisis for current readers and future historians."—Publishers Weekly (Publishers Weekly)
“This book ... written in the heat of the moment, serves as a running commentary on the [Greek financial] crisis…Gives Syriza’s take on a story often seen in the Anglophone press through the eyes of Brussels officials… Always a critic of economic orthodoxy, Galbraith is even more savage in his indictment of the political calculations that shaped the creditor’s position.”—Delphine Strauss, Financial Times (Delphine Strauss Financial Times 2016-08-01)
"Accessible prose flush with strong argument."—Paul Hockenos, New York Times Book Review (Paul Hockenos New York Times Book Review)
About the Author
James K. Galbraith holds the Lloyd M. Bentsen, Jr., Chair in Government/Business Relations at the LBJ School of Public Affairs, University of Texas at Austin. He is the author of eight books and hundreds of articles for both scholarly and general-interest journals.
Most helpful customer reviews
1 of 1 people found the following review helpful.
Five Stars
By Lampros Politis
Great quality (hard cover) and delivered sooner than expected.
2 of 3 people found the following review helpful.
This is a collection of articles written by JK Galbraith ...
By Panagiotis Metaxas
This is a collection of articles written by JK Galbraith for newspapers, magazines and conferences (already available online) plus a short introduction, an appendix containing a rough sketch of the "Plan B" and a couple of notes to Y Varoufakis. The text has high repetition (not surprising for a collection of summarizing articles). Unfortunately, the main reason to read the book (details on the plan B, arguments about its feasibility, etc) is simply not there. I wish there was something in the contents that we did not know from what was already publicly available through the media.
1 of 2 people found the following review helpful.
Don't waste your time
By Reviewer907
Everything this rabid author has to say is covered in chapter one. The rest of the essays are just a histrionic recapitulation of his earlier points. He rants at the status quo but offers no real solutions of his own. Worse, his message will be ignored because he manages to insult nearly every major player in the European drama. His approach is juvenile and unproductive.
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