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Category: Current

TWO CHEERS YANIS VAROUFAKIS

It took the collective wisdom of Europe’s great and good to create Europe’s first ponzi austerity scheme… As in Ponzi growth schemes, where more and more investments are required to maintain the pretence of growth, in the case of Greece, Portugal, Ireland, Spain and Cyprus more and more loans were

THE SIX EUROPEAN UNIONS OF 2030

Although this article is highly speculative, and somewhat light-hearted and fanciful in tone, it is intended to serve, if not as a beacon, at least a premonition of what such a beacon might look like. There are obviously many serious issues involved in a move toward this model, and not

THE POVERTY OF TRANSFERS: ON P. T. BAUER AND CAPITAL FUNDAMENTALISM

P. T. Bauer (1915–2002) is a Hungarian that his countrymen should remember and honour. One day, he will be celebrated as a great economist of the 20th century and a gallant figure who opposed the consensus. His father was a bookie in Budapest. One day “one of his clients suggested

UKRAINE’S CONFLICT WITH TWO OF ITS NEIGHBOURS

It is not the first time that I write on Ukraine in this journal, and most probably it will not be the last. It has been a long way since President George H. Bush told Ukrainians in Kiev in the summer of 1991 to remain within the Soviet Union, together

THE CIVILISATIONAL COLLAPSE OF THE WEST

The Roman Catholic Church is the oldest institution in the world. It has seen the ruin of an Empire, the rise and fall of kingdoms, withstood the invasions of barbarian tribes and repulsed Ottoman armies and navies. It even produced a pope who, with not a single armoured division, played

DETHRONING REASON: EUROPE IN MID-2018

Many years ago, in 1954, György Lukács published one of his largely unread masterpieces with the title Die Zerstörung der Vernunft, The Destruction of Reason, (Az ész trónfosztása, “the dethroning of reason” in Hungarian). I find a certain sad irony here in that the abandonment of reason by the left,

THE THREE SEAS INITIATIVE

2018 can be a decisive year for the future of the Three Seas Initiative. The summit of presidents of Three-Seas countries, to be held in autumn in Romania, will have to clearly demonstrate that the initiative is mature and will soon yield tangible political and economic results. The name reflects

THE REPORT AND THE FACTS – AND PROFESSIONALISM

István Fodor Interviewed on Transparency International Hungary’s 2017 Report* FRIENDS OF HUNGARY: The Hungarian branch of Transparency International (TI) recently published its 2017 report, which contained strong statements and allegations regarding corruption, the destruction of the rule of law and crony capitalism. Do they have a factual basis? You were