Europe in Crisis

Philip Arestis, University of Cambridge, UK; University of the Basque Country, Spain Joanna Bens, unaffiliated, USA Gary Dymski, Leeds University, UK Jesus Ferreiro, University of the Basque Country, Spain Mathew Forstater, University of Missouri - Kansas City, USA Carmen Gomez, University of the Basque Country, Spain Eckhard Hein, Berlin School of Economics and Law, Germany John King, La Trobe University, Australia Alexander G. Kondeas, Winston-Salem State University, USA Spyros Lapatsioras, University of Crete, Greece Zagros Madjd-Sadjadi, Winston-Salem State University, USA John Milios, National Technical University of Athens, Greece Dimitri B. Papadimitriou, Bard College, USA C. J. Polychroniou, Bard College, USA Sergio Rossi, University of Fribourg, Switzerland Malcolm Sawyer, University of Leeds, UK Dimitris P. Sotiropoulos, The Open University, UK Abdelaziz Testas, Nielsen Holdings N.V., USA Vasileios A. Vlachos, University of Macedonia, Greece L. Randall Wray, Bard College, USA; University of Missouri - Kansas City, USA

PART I: EU NEOLIBERALISM: POLITICAL ISSUES, CRITICISM, AND ALTERNATIVE PERSPECTIVES. 1. Limits of Policy Intervention in a World of Neoliberal Mechanism Designs: Paradoxes of the Global Crisis; Gary A. Dymski 2. A Post Keynesian Critique of Schwabian Housewife Logic; John King 3. Euroland in Crisis as the Global Meltdown Picks up Speed; Dimitri B. Papadimitriou, L. Randall Wray 4. Addressing the Rationality of 'Irrational' European Responses to the Crisis: A Political Economy of the Euro Area and the Need for a Progressive Alternative; Dimitris P. Sotiropoulos, John G. Milios, Spyros Lapatsioras 5. The Developmental State Alternative for the EU; Nikolaos Karagiannis and Zagros Madjd-Sadjadi PART II: ECONOMIC POLICIES FOR SUSTAINABLE GROWTH AND PROSPERITY IN THE EU 6. The Eurozone Needs a Complete Make-over of Its Fiscal Policies; Philip Arestis, Malcolm C. Sawyer 7. The Crisis of Finance-Dominated Capitalism in the Euro Area, Deficiencies in the Economic Policy Architecture, and Deflationary Stagnation Policies; Eckhard Hein 8. The Euro-area Crisis: Structural Origins and Possible Exit Strategies; Sergio Rossi 9. EU Regional and Industrial Policies, Disparities, and Alternative Developmental State Strategies; Joanna Bens, Nikolaos Karagiannis, Abdelaziz Testas 10. Complementary Currencies, Communities, Cooperation: The Local Job Guarantee in the Eurozone; Mathew Forstater PART III: THE EU NORTH-SOUTH DIVIDE AND COUNTRY-STUDIES 11. Globalisation and Capital Mobility: The Impact on the European Union; Alexander G. Kondeas 12. The Crisis of the Core Seen Through the Eyes of the Periphery: A Schelling Model of the Global-South Megacity and the European Crisis; Gary A. Dymski 13. Dead Economic Dogmas Trump Recovery: The Continuing Crisis in the Eurozone Periphery; C. J. Polychroniou 14. The Economic Crisis in Spain: Mistakes in the Management of the Economic Policy; Jesus Ferreiro and Carmen Gomez 15. The Battle against the Shadow Economy as an Exit from the Greek Sovereign Debt Crisis; Aristidis P. Bitzenis and Vasileios A. Vlachos