Has the sun set on Japanese-style development?

Source: Wikimedia Commons

In 1960, a mere 15 years since Emperor Hirohito announced the surrender of a war-torn Japan, newly inaugurated Prime Minister Hayato Ikeda announced a bold initiative to spur on further development in the Japanese economy, that despite post-war reforms and improvements, still lagged behind leading Western economies. This initiative was the Income Doubling Plan, and… Continue Reading ➤

South Korea: debunking the ‘miracle’ economy


South Korea’s economic development over the past 50 years offers lessons in the past, present and future, and casts light upon the injustice of economic development, and the pressing need for reform to the capitalist system in those states who have most decisively adopted it.   The Korean peninsula is a true twenty-first century paradox:… Continue Reading ➤

Does the deficit really matter?

An anti-austerity march in central London in June 2014

It has become an article of faith among the financial, economic and political commentariat in Britain and Europe that a budget deficit is an important issue, and one that requires urgent redress. In the UK, this partly results from domestic politics. Over the last five years, government rhetoric has argued that deficit reduction through government cuts… Continue Reading ➤

The Politics of the Politics of European Austerity

German Chancellor Angela Merkel and European Commission President Jean-Claude Juncker in May 2014. Has the advent of the latter's European investment plan indicated a shift in the balance of power in Europe away from German austerity?

The situation in Greece is at breaking point. Local councils have no money and Orthodox churches are having to feed people that authorities cannot cope with. Meanwhile in Athens, the newly elected Syriza party are in a standoff with the European Central Bank as they try to restructure their debt. They promised Greek voters they would… Continue Reading ➤

Greece, Europe and the Troika: Colonialism in Action?

I'm with stupid?: Slavoj Zizek and Oliver Stone meet Greece's Alexis Tsipras in May 2013

In the week following the Greek legislative elections on January 25th 2015, Syriza’s victory was hailed across Europe as marking the end of economic austerity and a new beginning for the country. Indeed, it is undeniable that the recent negotiations between Greece and the Eurozone were an outstanding Greek victory on the linguistic front: bailout extensions… Continue Reading ➤

What’s Wrong with the Left in Europe?

The Occupy London march on 1st May 2012 to mark International Workers' Day

It comes to something when an article on the left in Europe must start with the success of the far-right, once again, in this tumultuous continent. The dust from the three days of terror in Paris, in which gunmen killed 17 people across the French capital, has barely settled on an uneasy and increasingly polarised… Continue Reading ➤