Why Capitalism Won’t be Saved by New Deal Keynesian Interventions

Since the rise of market fundamentalism in the 1980’s, the fair treatment of Keynesian economics (state intervention into capitalism) has been given short-shrift in economics classes. But since the 2008 crash, reformers of capitalism such as Paul Krugman, Joseph Stiglitz and more popularly, Naomi Klein and Robert Reich, have rushed to the defense of capitalism by resurrecting Keynesian economics to solve capitalism’s crisis. They ignore that Keynesian had already shown it limits by the early 1970’s.

Read at Michael Robert’s Blog

Leave a Reply

Your email address will not be published.