It is a public holiday today celebrating – Labour Day – which recognises the struggles to successfully gain an 8-hour working day for workers. The first of the many marches in this struggle occurred in my hometown of Melbourne on April 21, 1856, and history shows that this march was successful in achieving the first 8-hour day decision in the world, without loss of pay. So today we think of that. If workers unite they have the capacity to achieve great things. What follows is a brief report and footage from a debate I participated in on October 2, 2021, which was organised by some groups in Helsinki, Finland.
I have several deadlines at present so I am using the Labour Day holiday to advance those while taking a day from blog posting other than what follows.
Event – Currency Arrangements, Helsinki, October 2, 2021
The Finish-based group Talousdemokratia together with the University of Helsinki organised a public debate on Saturday, October 2, 2021, which was streamed live via YouTube.
The topic was “The eurozone and other currency arrangements in a global economy” and I joined Professor Heikki Patomäki, one of my colleagues at the University of Helsinki in an interesting discussion about history, politics and economics.
The topics I addressed were as follows:
1. The capacities of a currency issuer and the consequences of using a foreign currency.
2. The dysfunctional architecture of the EMU – deliberately chosen to reinforce neoliberal ideological principles.
3. The reality that any crisis will always be worse in the EMU because of the monetary choices the architects made. A specific reference to the pandemic etc.
4. What are the options for reform? Federal Europe, etc
5. What are the chances of reform? Not good.
If you follow the whole stream you will see where Heikki and I agree and disagree.
Thanks to Niina, Ari and Konsta for their work in organising this.
The program was:
1. Introductions – to 8:32 minutes.
2. My talk (we were allocated maximum 30 minutes)- 8:40 to 38:00
3. Questions to me – 38:00 to 42:50
4. Heikki’s talk – 44:50 to 1:18:55
5. Panel discussion – 1:19:00 to 2:06:00
6. Some questions from audience followed to 2:22:00
Here is the full proceedings:
That is enough for today!
(c) Copyright 2021 William Mitchell. All Rights Reserved.