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10.02.2015 Greece is a supreme example of the accumulated effects of the world economic crisis. As the editorial writer of the Financial Times, Martin Wolf, indicates, unemployment has reached 26%, and the GDP is also 26% below its peak before the crisis of 2008. The expenditure of Greek society on goods and services has shrunk by at least an accumulated 40%. According to Paul Krugman, the "domestic devaluation" that took place in the Hellenic country, as a result of the fall in wages, and therefore, of the unit labor costs, reaches 16%.
09.07.2014 Thomas Piketty's book Capital in the 21st Century has reached second place on the Amazon bestsellers list, and third on the The New York Times' list. According to The Guardian “Carrying it under your arm has, in certain latitudes of Manhattan, become the newest tool for making a social connection among young progressives.” The book that some consider the counterpart of the Fukuyama “moment” that took place more than a decade ago, and which is suggestively known just as “Capital” in the US, has generated an overwhelming variety of reviews from every position of economic theory. In the context of the ideological emptiness in bourgeois theory created by the Great Recession, it is by no means coincidence that Piketty's book, which focuses on the dynamics of inequality in the capitalist economy, has become a significant political event, especially in Anglo-Saxon countries, and particularly in the US.
10.09.2011 After the risk rating agency S&P demoted the US public debt and amidst the continued free fall of all the world's stock exchanges, the neo-Keynesians Joseph Stiglitz and Paul Krugman, began a crusade, maintaining that the problem is not fundamentally in economics, but in "economic notions" and in the "far right."
08.08.2011 With the combination of the European and US crises and the grotesque background of negotiation "in extremis" [in extreme circumstances], the world economy is going through an unprecedented situation, from the historical point of view.
10.05.2010 What is really in question is not the health of the Greek economy, but the viability of the euro, and, even more, the risk that the European crisis will spread over the weak "recovery" of the world economy.