I am a Reader in Economics at Queen Mary, University of London, UK, a Research Fellow at IZA, Bonn, Germany, and a member of the Higher Education Academy, UK.
I have received my BSc in Economics from the Athens University of Economics and Business, Greece, my Masters and PhD in Economics from the University of London, UK.
I consider myself as a macroeconomist with 25 years of distinct theoretical and empirical contributions in the field. I am a disciple of the rich and multifacet tradition of classical political economy with disdain to conspicuous and ephemeral microfoundations.
My initial research focused on dynamic macro-labour models with spill over effects, the evaluation of the inflation-unemployment trade off, and the identification of the factors which jointly drive these central macro-variables. Together with my PhD supervisor, I have developed the Chain Reaction Theory (CRT) which challenges the classical dichotomy doctrine and the macroeconomic consensus behind the existence of a Natural Rate of Unemployment and of a downward sloping Phillips Curve. Through the CRT lenses, I have also produced work in regional economics.
I always had doubts as to whether the standard economic paradigm of the “holy trinity” of GDP growth, inflation and unemployment management suffices as a snapshot of a rich economy’s well functioning. I felt that inequality is the missing vital fourth statistic. My subsequent research is manly in trying to explain why the rise in inequality of wealth in the developed economies at levels not seen since the eve of the Great Depression has gradually taken place in the last 40 years.
Through my work on Warrant Economics, I have addressed the structural and systemic flaws of modern capitalism that paved the way to the Great Recession. I have elaborated on the anatomy and the apparatuses of the neoliberal, highly-globalised monopoly-finance mode of resource allocation and price utility. My main argument is that the global fields of a dysfunctional market system have mushroomed into what I called “Warrant Economics for the Free-market aristocracy”, a power structure of insiders’ capitalism. I elaborated on the deep-seated reasons that Warrant Economics has unfolded in two symbiotic tenets: (i) the systemic creation and preservation of inequality and business concentration via Call-Put Policy Options, and (ii) the systemic exploitation of inequality via novel and toxic forms of financial engineering and securitisation.
I did carry on to develop the Fiscal Inequality Coefficient (FIC) that holistically addresses the effective income tax contribution of a given income, or wealth, group. I did suggest that the progressivity of the incumbent income tax system in the developed world should be re-evaluated to make the richest echelons of the income and wealth distributions pay a fairer and higher tax. This particular research has attracted considerable press, media and political personnel attention.
I have also reflected on the flawed neoliberal economics of the Eurozone and the genesis and unfolding of the Greek drama. I have argued against austerianism and have suggested the implementation of parallel currencies in member states as a temporary pressure mechanism to halt the tearing of the social fabric.