“Was not their mistake once more bred of the life of slavery that they had been living?—a life which was always looking upon everything, except mankind, animate and inanimate—‘nature,’ as people used to call it—as one thing, and mankind as another, it was natural to people thinking in this way, that they should try to make ‘nature’ their slave, since they thought ‘nature’ was something outside them” — William Morris


Monday, June 29, 2015

Please Leave the Euro Now, Greece

acceding to the troika’s ultimatum would represent the final abandonment of any pretense of Greek independence. Don’t be taken in by claims that troika officials are just technocrats explaining to the ignorant Greeks what must be done. These supposed technocrats are in fact fantasists who have disregarded everything we know about macroeconomics, and have been wrong every step of the way. This isn’t about analysis, it’s about power — the power of the creditors to pull the plug on the Greek economy, which persists as long as euro exit is considered unthinkable.
So it’s time to put an end to this unthinkability. Otherwise Greece will face endless austerity, and a depression with no hint of an end.
--Paul Krugman

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