Tag Archives: Greece

Money, prices, assets and evasions of responsibility

Understanding the equation of exchange can help see what a massive evasion of institutional responsibility lies behind the Great Recession and the Eurozone crisis. Economist Irving Fisher developed the original algebraic formulation of the equation of exchange, in his The Purchasing Power of Money (1911): MV = PT Money x Velocity = Prices x Transactions. Fisher’s use of […]

What’s left out

In a his excellent The World Is Not Enough blog, Charles Richardson comments on an essay by Israeli journalist Yossi Gurvitz.  Gurvitz’s essay applies the analogy of Germans expelled from the Sudetenland, Silesia, Prussia etc after 1945 to the Palestinians expelled from Israel in 1947-48. As Charles notes, it is a revealing analogy. But revealing not […]

A misbegotten Union – Guest post by Lorenzo

[SL: it is now compulsory, in order to practice in either England or Scotland, to study European Union Law (I managed to evade it at Oxford, just), which I suspect is misconceived, at least on the part of those who rather like the European Union. It exposes the bones of an organisation so badly run […]

Anarchists: We blow up mild-mannered and inoffensive people so you don’t have to!

A suspected bomb has exploded at the Swiss embassy in the Greek capital Athens, a day after four parcel bombs were found in the city. Police said the device was thrown into a courtyard at the embassy and no casualties have been reported. Controlled explosions were also carried out on packages at the Bulgarian embassy […]