RMF Capital Reading Group
RMF’s new Capital Reading Group has begun.
The group is aimed at those with an interest in Marx but who have not necessarily read Capital, as well as being open to those more experienced with the text. Members need not be economists, as multidisciplinary membership enriches the content of our discussions.
We are following the Penguin Classics edition of Capital, so prospective members should make sure in advance that they will have access to this edition of the text. It can be purchased relatively cheaply from Amazon. We are starting with volume 1, but then intend to go on to tackle volumes 2 and 3.
Members of the group read the portion of the text scheduled for each session in advance. The group organisers introduce the sessions through short presentations, which are then followed by open discussion.
The group meets fortnightly on Mondays 19:00-21:00 at the School of Oriental and African Studies (SOAS). Thus far we have covered sections 1-3 of Chapter 1: The Commodity. The next session will be held on Monday 24 February in SOAS room G3 and will cover Section 4 of Chapter 1 – ‘The Fetishism of the Commodity and its Secret’. Those who wish to participate should therefore have covered all of Chapter 1.
RMF – Prometheus research collaboration
1. Banking in Cyprus: A Crisis Made in the Eurozone, by Duncan Lindo
2. Cypriot Public Debt: A Troubled Path under Current Policies, by Ourania Dimakou
3. Cypriot Banking System: At the Point of No Return, by Duncan Lindo
New RMF LIBOR discussion paper out now:
Financial Times (Op-ed by Costas Lapavitsas and Alexis Stenfors 6 February 2013)
The Guardian (comment by Larry Elliot 28 October 2012 on Alexis Stenfors’ recent RMF discussion papers on Libor Games)
Aftenposten (Interview with Alexis Stenfors 7 March 2013 on NIBOR and Norges Bank)
New RMF book out now: Crisis in the Eurozone
“This book is indispensable for anyone trying to make sense of the European Union’s implosion.”
– Alex Callinicos, Professor of European Studies, King’s College London
“Crisis in the Eurozone combines the urgency of front-line reporting with insightful detail about the players involved and mechanisms at work”
– Gary A. Dymski, Professor of Economics, University of California, Riverside
“The most comprehensive, thoughtful, and insightful dissection of the Eurozone’s problems. If you could only read one item on this momentous crisis, this book would be it.”
– Stergios Skaperdas, Professor of Economics, University of California, Irvine
For Media Coverage of the Book see Socialist Review (by Joseph Choonara, June 2012), Guardian (interview with Costas Lapavitsas, 13 June 2012), Observer (by Heather Stewart, 24 June 2012), Publico (in Portuguese, interview with Costas Lapavitsas, 29 June 2012)
New Book by John Weeks, Economics of the 1%
How Mainstream Economics Serves the Rich,
Obscures Reality and Distorts Policy
Coming out 15 January 2014, information sheet here
44. Capital Fixity and Mobility in Response to the 2008-09 Crisis:Variegated Neoliberalism in Mexico and Turkey, by Hepzibah Muñoz-Martínez and Thomas Marois
The article examines the 2008-9 crisis responses in Mexico and Turkey as examples of variegated neoliberalism. The simultaneous interests of corporations and banks relative to the national fixing of capital and their mobility in the form of global investment…
43. BNDES’ Contribution to Brazilian Industrialization, from 1952 to present-day, by Victor Isidro Luna
This article aims to show that development banks make a positive effect to economic growth and to generate employment, mostly. It is specifically shown the Brazilian case, with its development bank BNDES founded in 1952…
42. The Political Economy of Public Investment and Public Finance: Challenges for Social Democratic Policies, by Jamee K. Moudud and Francisco Martinez-Hernandez
The “comprehensive socialisation of investment” was a key policy goal of The General Theory. And yet, empirically, we see a decline in the public investment share in most OECD countries since the economic crisis of the 1970s…
41.Does the LIBOR Misdirect Monetary Policy? A Case Study on the NIBOR and Norges Bank 2007-11, by Alexis Stenfors
This paper is an empirical investigation into the Norwegian Interbank Offered Rate (NIBOR) during 2007-2011. It is demonstrated that an informal rule change to the benchmark fixing mechanism, instigated by the NIBOR panel in September 2008…
Third RMF Report on the Eurozone Crisis:
Breaking Up? A Route Out of the Eurozone Crisis
For Media Coverage of the Report see Journal Utopia (in Greek, by Christina Laskarides, 5 December 2011), Der Standard (in German, interview with Annina Kaltenbrunner, 1 December 2011), Public Service Europe (by Jo Michell, 30 November 2011), La Vanguardia (in Spanish, interview with Costas Lapavitsas, 22 November 2011), Rosa Luxemburg Stiftung (in German, 21 November 2011), iEco (in Spanish, by Isabel Stratta, 20 November 2011), Epikaira (in Greek, by Leonidas Vatikiotis, 17 November 2011), The Miami Herald (by Joanna Kakissis, 17 November 2011), Prin (in Greek, by Petros Kosmas, 13 November 2011), El Pais (in Spanish, by Amanda Mars, 13 November 2011), The Observer (by Heather Stewart, 13 November 2011), Eleftherotypia (in Greek, by Leonidas Vatikiotis, 12 November 2011), CNN (by Costas Lapavitsas, 10 November 2011).
Second RMF Report on the Eurozone Crisis:
Eurozone Between Austerity and Default
Sweeping public cutbacks are being imposed across the Eurozone. A new RMF report analyses the costs, benefits and social implications of action to break the cycle of debt as opposed to enduring austerity-induced long-term stagnation.
For Media Coverage of the Report see El Pais (in Spanish, 12 September 2010), Jornal de Negocios (in Portuguese, 13 September 2010), Sbilanciamoci (in Italian, 15 September 2010), GR Reporter (in English, 17 September 2010), Imerisia (in Greek, 17 September 2010), Prin (in Greek, 20 September 2010), Epikaira (in Greek, 22 September 2010), Público (in Portuguese, 26 September 2010), Eleftherotipia (in Greek, 26 September 2010), Sky Radio (in Greek, interview with Costas Lapavitsas, audio posted: 26 September 2010), The Guardian (by Costas Lapavitsas, 1 October 2010), EUobserver (by George Irvin, 4 October 2010), La Vanguardia (in Spanish, 17 October 2010), Jornal de Negócios (in Portuguese, interview with Costas Lapavitsas, 6 December 2010).
First RMF Report on the Eurozone Crisis:
Beggar Thyself and Thy Neighbour
RMF report considers the causes of the Eurozone crisis and discusses alternative policies.
Download Executive Summary in English, French, German, Greek, Italian, Portuguese, Spanish and Turkish. Download Press Release in English, Greek, Portuguese, Spanish and Turkish.
For Media Coverage of the Report see The Guardian (by Larry Elliott, 15 March 2010), Público I – Público II (in Portuguese, 18 March 2010), Birgün I – Birgün II (in Turkish, 18-19 March 2010), Jornal de Negócios I - Jornal de Negócios II (in Portuguese, 19 March 2010), El Pais (in Spanish, 20 March 2010), Epohi (in Greek, 21 March 2010), Kathimerini (in Greek, 21 March 2010), The Guardian (by Costas Lapavitsas, 21 March 2010), BBC World Service (interview with Costas Lapavitsas, audio posted: 25 March 2010), Kokkino (in Greek, interview with Costas Lapavitsas, audio posted: 25 March 2010), Vima (in Greek, 27 March 2010), Makedonia (in Greek, 28 March 2010), Público (in Portuguese, 28 March 2010), El Pais (in Spanish, 4 April 2010), La Vanguardia (in Spanish, 4 April 2010), Epohi (in Greek, 4 April 2010), Eleftherotipia (in Greek, 11 April 2010), Epikaira (in Greek, 13 April 2010), Deia (in Euskara, 16 April 2010).