John Milios ( ; born 1952) is a

Greek Greek may refer to: Greece Anything of, from, or related to Greece, a country in Southern Europe: *Greeks, an ethnic group. *Greek language, a branch of the Indo-European language family. **Proto-Greek language, the assumed last common ancestor ...

social scientist Social science is one of the branches of science, devoted to the study of societies and the relationships among individuals within those societies. The term was formerly used to refer to the field of sociology, the original "science of socie ...

and

Marxian economics Marxian economics, or the Marxian school of economics, is a Heterodox economics, heterodox school of political economic thought. Its foundations can be traced back to Karl Marx, Karl Marx's Critique of political economy#Marx's critique of politic ...

scholar. He is Professor of

Political Economy Political economy is the study of how Macroeconomics, economic systems (e.g. Marketplace, markets and Economy, national economies) and Politics, political systems (e.g. law, Institution, institutions, government) are linked. Widely studied ph ...

and the History of Economic Thought at the

National Technical University of Athens The National (Metsovian) Technical University of Athens (NTUA; el, Εθνικό Μετσόβιο Πολυτεχνείο, ''National Metsovian Polytechnic''), sometimes known as Athens Polytechnic, is among the oldest higher education institution ...

. An author of several scholarly books, Milios is also director of the quarterly journal of economic theory ''Theseis''. He was chief economic adviser of the Greek leftist party

SYRIZA The Coalition of the Radical Left – Progressive Alliance ( el, Συνασπισμός Ριζοσπαστικής Αριστεράς – Προοδευτική Συμμαχία, Synaspismós Rizospastikís Aristerás – Proodeftikí Simachía), ...

until March 2015.

Early life and education

John Milios was born in 1952, in Athens as the son of a lawyer and a dentist. Having attended

Athens College Athens College ( el, Κολλέγιο(ν) Αθηνών; formally Hellenic-American Educational Foundation (HAEF)) is a co-educational private preparatory school in Psychiko, Greece, a suburb of Athens, part of the Hellenic-American Educational ...

, he graduated in the same class with former prime minister

George Papandreou George Andreas Papandreou ( el, Γεώργιος Ανδρέας Παπανδρέου, , shortened to ''Giorgos'' () to distinguish him from his grandfather; born 16 June 1952) is a Greek politician who served as Prime Minister of Greece from ...

, before studying

mechanical engineering Mechanical engineering is the study of physical machines that may involve force and movement. It is an engineering branch that combines engineering physics and mathematics principles with materials science, to design, analyze, manufacture, and ...

at TU Darmstadt, Germany, and Athens, where he received his Ph.D. in 1981. During his studies, Milios became interested in

political economics Political economy is the study of how economic systems (e.g. markets and national economies) and political systems (e.g. law, institutions, government) are linked. Widely studied phenomena within the discipline are systems such as labour mar ...

, founding the quarterly journal of economic theory ''Theseis'' in 1982. In 1988, he received his second Ph.D. in Social and Economic Studies at the

University of Osnabrück A university () is an institution of higher (or tertiary) education and research which awards academic degrees in several academic disciplines. Universities typically offer both undergraduate and postgraduate programs. In the United States, the ...

, Germany.

Political career

Since at least 2012 until March 2015 he was the chief economic adviser to Syriza. Syriza leader

Alexis Tsipras Alexis Tsipras ( el, Αλέξης Τσίπρας, ; born 28 July 1974) is a Greek politician serving as Leader of the Official Opposition since 2019. He served as Prime Minister of Greece from 2015 to 2019. Tsipras has led the Coalition of th ...

leads a coalition government ( Cabinet Tsipras) since the election on 25 January 2015. In February, Milios proposed a scheme to kick start struggling European economies. It involved the

European Central Bank The European Central Bank (ECB) is the prime component of the monetary Eurosystem and the European System of Central Banks (ESCB) as well as one of seven institutions of the European Union. It is one of the world's Big Four (banking)#Intern ...

buying debt from Euro zone countries. It would hold the debt until the countries

Gross domestic product Gross domestic product (GDP) is a money, monetary Measurement in economics, measure of the market value of all the final goods and services produced and sold (not resold) in a specific time period by countries. Due to its complex and subjec ...

(GDP) rose to five times its value. ("

GDP-linked bond In finance, a GDP-linked bond is a debt security or derivative security in which the authorized issuer (a country) promises to pay a return, in addition to amortization, that varies with the behavior of Gross Domestic Product (GDP). This type of ...

") Milios had proposed similar ideas in 2014.

Economic theory

Regarding the Marxian concept of

value-form The value-form or form of value (german: Wertform) is a concept in Karl Marx's critique of political economy. Marx's account of the value-form is differently adopted in later forms of Marxism, in the Frankfurt School and in post-Marxism. When so ...

, Milios argues for a

monetary theory of value A theory of value is any economic theory that attempts to explain the exchange value or price of goods and services. Key questions in economic theory include why goods and services are priced as they are, how the value of goods and services comes ...

, where "Money is the necessary form of appearance of value (and of capital) in the sense that prices constitute the only form of appearance of the value of

commodities In economics, a commodity is an economic good, usually a resource, that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them. The price of a comm ...

." Milios has authored more than two hundred papers published in refereed journals (in Greek, English, German, French, Spanish, Portuguese, Italian and Turkish) and has authored or co-authored more than ten scholarly books on Marxian economics.

Main publications in English

* (with. D. Dimoulis; G. Economakis): ''Karl Marx and the Classics. An Essay on Value, Crises and the Capitalist Mode of Production'' Ashgate, 2002, . new edition 2018 * (with D.P. Sotiropoulos): ''Rethinking Imperialism. A Study of Capitalist Rule.'' Palgrave-Macmillan, 2009, . * (with D.P. Sotiropoulos & S. Lapatsioras): ''A Political Economy of Contemporary Capitalism and its Crisis. Demystifying Finance.'' Routledge, 2013 + 2015 () * "The Origins of Capitalism as a Social System. The Prevalence of an Aleatory Encounter". Routledge, 2018

References

External links

* http://users.ntua.gr/jmilios/en/index.html * (Greek) * * https://ntua.academia.edu/JohnMilios {{DEFAULTSORT:Milios, John 1952 births Living people Greek anti-capitalists Greek social scientists Greek Marxists Marxian economists 20th-century Greek economists Academic staff of the National Technical University of Athens Syriza politicians 21st-century Greek politicians 21st-century Greek economists People from Athens