The single currency’s design isn’t perfect. But what’s really hampered its first 20 years, says Adam Tooze, are decisions freely taken by power-hungry men in Frankfurt
‘This summer, European states hiked military spending and swallowed a poor trade deal in order to win favor with Donald Trump. Yet the US president’s negotiations with Vladimir Putin all but ignored their proposals.’ In […]
According to Marxist theory, the Tendency of the Rate of Profit to Fall (TRPF) leads to recurrent crises under capitalism. It’s a helpful device for framing the history of modern capitalism, from the profitability crisis of the 1970s […]
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