A Reply to John Quiggin’s Zombie Economics

By Con George-Kotzabasis

Are you proposing an unbalanced budget as a way out of zombie economics and long term prosperity? To live beyond one’s means is to live in FALSE prosperity that will not last long, as the present situation in Europe shows starkly. Moreover, a false prosperity encourages and incites a stampede of speculative bubbles that with algorithmic precision blow up in a bust. You are confusing austerity as a ‘drug’ and austerity as a ‘poison’. As a drug it cures your insanity to live beyond your means; as a poison it exacerbates the illness of recession by depriving you of the stimulants of a Central Bank that could weaken the virus of recession and cure it gradually, if one uses the funds wisely to reinvigorate the REAL economy and boost entrepreneurial creativity and innovation, as the leader of the Opposition in Greece, Antonis Samaras, last May, proposed in his Zappeio Address.

Hence, your “zombie” austerity turns into a boomerang and hits you with all the force of Newtonian gravity in your confused austerity.

Technology Despite its Discontents Opens the Door to Prosperity

By Con George-Kotzabasis

You place important questions in your post. Indeed, technology is an important, if not the most important, “driving force” to globalization, and whilst it unites the world on a scientific level it simultaneously sunders it on a geopolitical level as a result of the different strategic interests of the major players on the global chessboard.

Globalization however is no longer a choice as it has become virtually an elemental force and those who resist it are bound to suffer its inevitable tragic consequences. Also, whilst many governments that are aware of the problems posed by globalization will “work together”, as I adumbrated above, some will not. But those that will cooperate and deliver political stability and economic prosperity will have the majority of the world’s peoples on their side.

I like your opening with caterpillars and butterflies which concisely illustrates the evolutionary development of all things, and in whose development creativity plays the primary role.