200 years of evidence and they still say the same shit.
Even if you could cure “demand-side recessions” this shit would still occur because capitalism has absolutely no central authority with which to mount a response whenever an unexpected crisis hits. Disasters happen. Big events that shake up the system happen. You can’t cure these and you can’t resolve capitalism’s inability to respond adequately to them.
Except that they also have evidence that capitalist economies can and do fix large economic problems, as evidenced both by new deal politics and developmental states, its just that they ALSO reject those solutions.
Economics keep coming up with the same answers with regards to how this works, and then classical economics switches name and we start over.
200 years of evidence and they still say the same shit.
Even if you could cure “demand-side recessions” this shit would still occur because capitalism has absolutely no central authority with which to mount a response whenever an unexpected crisis hits. Disasters happen. Big events that shake up the system happen. You can’t cure these and you can’t resolve capitalism’s inability to respond adequately to them.
Except that they also have evidence that capitalist economies can and do fix large economic problems, as evidenced both by new deal politics and developmental states, its just that they ALSO reject those solutions. Economics keep coming up with the same answers with regards to how this works, and then classical economics switches name and we start over.