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  • Mark 7:37 pm on May 9, 2017 Permalink | Reply
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    What’s the difference between academia and politics? 

    In his wonderful memoir, Adults In The Room, Yanis Varoufakis reflects on the frustrations of politics and how they compare to academia. From loc 5504:

    Possibly because of my academic background, this was the Brussels experience I least expected and found most frustrating. In academia one gets used to having one’s thesis torn apart, sometimes with little decorum; what one never experiences is dead silence, a refusal to engage, a pretence that no thesis has been put forward at all. At a party when you find yourself stuck with a self-centred bore who says what they want to say irrespective of your contribution to the conversation, you can take your glass and disappear to some distant corner of the room. But when your country’s recovery depends on the ongoing conversation, when there is no other corner of the room to retreat to, irritation can turn into despair –or fury if you grasp what is really going on: a tactic whose purpose is to nullify anything that is inimical to the troika’s power.

    I found it fascinating to read this. Since encountering this paper by Richard French a few years ago, I’ve been interested in the implicit conceptions of politics which animate the publicly-orientated activity of academics. How do they think power works? How do they think problems are solved? How do they think challenges are negotiated? It seems as if Varoufakis’s intellectual interests (particularly game theory and political economy) left him well attuned to the dynamics of power but his nostalgia for academia certainly resonates with what French argues here:

    Many academics misunderstand public life and the conditions under which policy is made. This article examines misconceptions in three major academic traditions—policy as science (e.g., ‘evidence-based policy’), normative political theory, and the mini-public school of deliberative democracy—and argues that the practical implications of each of these traditions are limited by their partial, shallow and etiolated vision of politics. Three constitutive features of public life, competition, publicity and uncertainty, compromise the potential of these traditions to affect in any fundamental way the practice of politics. Dissatisfaction with real existing democracy is not the consequence of some intellectual or moral failure uniquely characteristic of the persona publica, and attempts to reform it are misdirected to the extent that they imagine a better public life modeled on academic ideals.

  • Mark 8:35 pm on May 8, 2017 Permalink | Reply
    Tags: , , , policy, policy elites, , , , , , varoufakis,   

    Elections cannot be allowed to change economic policy 

    What does it mean for policy to be insulated from politics? That’s the question we ultimately confront when investigating the putative depoliticisation of the economy. Matters which should be publicly resolved, through organised processes of contestation, instead get decided privately. We can cite examples of such transitions, consider whether they embody a broader tendency and offer explanations which account for this direction of travel.

    However I’ve often wondered about the micro-social aspects of such a transition, specifically how policy makers make sense of this depoliticisation. Is it a naked power grab? Is it a response to the vagaries of the electorate? Is it an attempt to address issues of socio-economic change which are seen as being impossible to raise with the public?  Yanis Varoufakis offers a partial answer to these questions in his gripping accounts of Eurogroup negotiations in his political memoir Adults In The Rooms. From loc 4202

    As he spoke, Schäuble directed a piercing look at Sapin. ‘Elections cannot be allowed to change economic policy,’ he began. Greece had obligations that could not be reconsidered until the Greek programme had been completed, as per the agreements between my predecessors and the troika. The fact that the Greek programme could not be completed was apparently of no concern to him. What startled me more than Wolfgang Schäuble’s belief that elections are irrelevant was his total lack of compunction in admitting to this view. His reasoning was simple: if every time one of the nineteen member states changed government the Eurogroup was forced to go back to the drawing board, then its overall economic policies would be derailed. Of course he had a point: democracy had indeed died the moment the Eurogroup acquired the authority to dictate economic policy to member states without anything resembling federal democratic sovereignty.

  • Mark 6:31 pm on May 7, 2017 Permalink | Reply
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    What will Macron be like in government? 

    I happened to be reading this page of Yanis Varoufakis’ political memoir a few moments before Macron’s near certain victory was announced. From loc 3398:

    Emmanuel Macron listened actively and engaged directly, his eyes radiant and ready to display his approval or disagreement. The fact that he had good English and a grasp of macroeconomics as well meant we were soon on the same page regarding Europe’s need for a genuine investment programme that would put its trillions of idle savings to work for the collective good. From my first meeting with him, I regretted dearly that it was Sapin who represented France in the Eurogroup and not Macron. Had they swapped roles, things might have ended up differently.

    From loc 4308:

    only one Frenchman was lending moral support, Emmanuel Macron, the French economy minister. Having no seat in the Eurogroup himself, he had called to wish me well just as I was stepping into the meeting. During the negotiations over the communiqué he sent me regular requests for updates. What was my feeling? How was the meeting going? I replied that I was prepared to bend over backwards to make a decent communiqué possible. ‘The first draft was appalling, let’s hope that they will not prove ridiculously stubborn,’ I texted him. At 10.43 Emmanuel responded, advising me to keep cool and seek a compromise but only if they moved in our direction. At 11.02 I texted back, ‘They are pushing us out of the door … They wanted to roll me into a communiqué that not even Samaras would have signed.’

  • Mark 9:44 am on May 7, 2017 Permalink | Reply
    Tags: , , culpability, , , , , , , varoufakis   

    What does distraction mean for political theory and political philosophy? 

    Soon after becoming Finance Minister of Greece, Yanis Varoufakis found himself surrounded by civil servants whose loyalties he could not assume and staff parachuted in by a political party with which he had little prior affiliation. In his political memoir, Adults In The Room, he recounts his impulse to find “a minder whose loyalties would not be shared with any of my new Syriza comrades, let alone the deputy PM”. He turned to an old friend from university to serve this purpose, describing on loc 2873 the risks he sought protection from:

    ‘To keep me out of jail, Wassily,’ I replied. He understood. Ministers of finance are at the mercy of their minders. They sign dozens of documents, decrees, contracts and appointments daily. It is humanly impossible to examine closely everything they sign. All it takes is a hostile or absent-minded aide, and suddenly the minister faces the wrath of the public or a summons to court.

    What is the danger here? The pace at which he is forced to work, the number of documents which he must formally assess, preclude a meaningful engagement with their content. This is something which could be exploited by those able to exercise an influence over what goes into his in-tray. The specific risks he faced were unique to his role as Finance Minister, as well as the times and circumstances under which he served.

    However is there a broader lesson here about distraction and culpability? To what extent do our moral and legal notions of culpability rest on an assumption of the considered evaluation of our actions? If this is the case, it follows that distraction is something which political philosophers ought to take seriously. It has consequences at the moral level, in terms of how we attribute responsibility to persons. But it is also something we should consider in legal terms, if the attribution of culpability rests on assumptions about the socio-temporal conditions for evaluation which were absent in practice.

    There’s a helpful summary on Wikipedia of the degrees of culpability recognised in criminal law in the United States:

    • A person causes a result purposely if the result is his/her goal in doing the action that causes it,
    • A person causes a result knowingly if he/she knows that the result is virtually certain to occur from the action he/she undertakes,
    • A person causes a result recklessly if he/she is aware of and disregards a substantial and unjustifiable risk of the result occurring from the action, and
    • A person causes a result negligently if there is a substantial and unjustifiable risk he/she is unaware of but should be aware of.


    If we accept the argument that distraction is socially and culturally produced, should this lead us to qualify the third and fourth dimensions of culpability? I want to sustain the argument that recklessness and negligence are in an important sense liable to be produced systematically, even if it remains extremely difficult to quantify such a claim. What does distraction mean for political theory and political philosophy?

  • Mark 2:53 pm on May 5, 2017 Permalink | Reply
    Tags: , , , , , , summers, , , varoufakis   

    The technocratic oath 

    In his political memoir, Adults In The Room, Yanis Varoufakis recounts a meeting with Larry Summer which took place in April 2015. Only months into his tenure as Finance Minister, he looked to this architect of the neoliberal world order for support as hostilities with European leaders over Greece’s fiscal future rapidly intensified. Coming straight from a meeting at the IMF in Washington, Varoufakis was met with an immediate warning from Summers that he had “made a big mistake”. This began a long conversation which ended with a fascinating warning. From loc 1050:

    Finally, after agreeing our next steps, and before the combined effects of fatigue and alcohol forced us to call it a night, Summers looked at me intensely and asked a question so well rehearsed that I suspected he had used it to test others before me. 

    ‘There are two kinds of politicians,’ he said: ‘insiders and outsiders. The outsiders prioritize their freedom to speak their version of the truth. The price of their freedom is that they are ignored by the insiders, who make the important decisions. The insiders, for their part, follow a sacrosanct rule: never turn against other insiders and never talk to outsiders about what insiders say or do. Their reward? Access to inside information and a chance, though no guarantee, of influencing powerful people and outcomes.’ With that Summers arrived at his question. ‘So, Yanis,’ he said, ‘which of the two are you?’

    When reading of this exchange in a review of the memoir, I immediately thought back to a story Elizabeth Warren had told about an encounter with Summers in a Washington curry restaurant early in her move from academia to politics. Upon purchasing Varoufakis’s book, I found that I wasn’t the only person to notice this parallel and be fascinated by it. As he recounts in an end note to the book:

    A few months after I had resigned the ministry, my good friend and academic colleague Tony Aspromourgos, upon hearing about my exchanges with Larry Summers, confirmed my suspicion when he sent me this quotation from Senator Elizabeth Warren, documented in 2014: 

    Late in the evening, Larry leaned back in his chair and offered me some advice … He teed it up this way: I had a choice. I could be an insider or I could be an outsider. Outsiders can say whatever they want. But people on the inside don’t listen to them. Insiders, however, get lots of access and a chance to push their ideas. People –powerful people –listen to what they have to say. But insiders also understand one unbreakable rule: they don’t criticize other insiders. I had been warned. John Cassidy (2014), ‘Elizabeth Warren’s Moment’, New York Review of Books, Vol. 61 (no. 9), 22/ 5–4/ 6/ 14, pp. 4–8.

    Could this be seen as the professional socialisation of technocratic elites? Does Summers engage in a particularly practiced and performative example of something which takes a cruder form elsewhere? Does he particularly focus on those like Varoufakis and Warren who have moved from the academy to politics? As he reflects on loc 156, the technocratic oath is something which transcends agreements of strategy and analysis:

    We spoke the same economic language, despite different political ideologies, and had no difficulty reaching a quick agreement on what our aims and tactics ought to be. Nevertheless, my answer had clearly bothered him, even if he did not show it. He would have got into his taxi a much happier man, I felt, had I demonstrated some interest in becoming an insider. As this book’s publication confirms, that was never likely to happen.

  • Mark 7:47 am on October 25, 2016 Permalink | Reply
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    What would the European Union look like in an American context? 

    This is a great analogy offered by Yanis Varoufakis in So The Weak Suffer What They Must? on loc 1016:

    The equivalent in the United States would have been a Washington bureaucracy, operating without a Senate or a House of Representatives to keep the bureaucrats in check, able to overrule state governments on almost anything and bent on fixing prices at levels higher than the market would have selected.

    Eventually, such a bureaucracy might accept the necessity for greater democracy, but what would its implementation look like when this was its starting point?

  • Mark 8:18 pm on September 5, 2016 Permalink | Reply
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    Yanis Varoufakis on the Parallax Challenge 

    From loc 460-477 of his The Global Minotaur:

    The parallax challenge A stick half submerged in a river looks bent. As one moves around it, the angle changes and every different location yields a different perspective. If, in addition, the river’s flow gently moves the stick around, both the ‘reality’ of the ‘bent’ stick and our understanding of it are in constant flux. Physicists refer to the phenomenon as the parallax. I enlist it here to make the simple point that many different observations about the Crash of 2008 may be both accurate and misleading. This is not to deny the objective reality either of the stick (i.e. that it is not bent at all) or of the Crash and its aftermath, the Crisis. It is simply to note that different viewpoints can all generate ‘true’ observations, yet fail to unveil the basic truth about the phenomenon under study. What we need is something beyond a variety of potential explanations and perspectives from which to grasp the stick’s reality. We need a theoretical leap, like the one the physicist makes, which will allow us to rise above the incommensurable observations before landing in a conceptual place from which the whole thing makes perfect sense. I call this ‘leap’ the parallax challenge.

    • Martha Bell 8:28 am on September 6, 2016 Permalink


      Have you seen Sylvia Walby’s Crisis (Polity, 2015) yet?

    • Mark 3:38 pm on September 6, 2016 Permalink

      Oh that looks great – saw her talk for first time recently and was very impressed

  • Mark 4:14 pm on May 29, 2016 Permalink | Reply
    Tags: , competitive individualism, , , , , , , , varoufakis   

    Varoufakis on contemporary capitalism’s preposterous reversal of the truth 

    This isn’t a new idea but I’ve rarely encountered it expressed so concisely:

    The idea that individuals create wealth and that all governments do is come along and tax them is what Varoufakis calls “a preposterous reversal of the truth”.

    “There is an amazing myth in our enterprise culture that wealth is created individually and then appropriated by the state to be distributed.

    “We are conceptualising what is happening in society as if we are an archipelago of Robinson Crusoes, everybody on an island, creating our own thing individually and then a boat comes along and collects it and redistributes it. It’s not true. We are not individual producers, we produce things collectively.”

    He points to an iPhone.

    “This machine, inside of it, contains technologies that were created collectively. Not only through collaboration but a lot of public funding. Every single technology in there was created by government grant.”


    • Dave Ashelman 2:17 pm on May 30, 2016 Permalink

      There is a great book by Mariana Mazzucato (2015) entitled “The Entrepreneurial State: Debunking Public vs. Private Sector Myths.” She’s an Italian Marxist Economist who makes the same case, both with the iPhone and other innovations. Her larger (and compelling) argument is that there has been no true innovation without state involvement and investment. It’s a good read.

    • Mark 2:19 pm on May 30, 2016 Permalink

      look forward to it, I bought it on Kindle a while ago but haven’t got round to it yet

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