|
|
Finance Capital and the World Economy*
|
|
|
Oct 11th 2021, Prabhat Patnaik
|
|
Neo-liberalism
implies a shift from wages to surplus that depresses
the level of aggregate demand, leading to an over-production
crisis. Since fiscal conservatism in neo-liberal economies
prevents State spending, the only possible counter is
provided by asset price bubbles that can boost demand
in the short run.
*
This article was originally published in People's
Democracy on October
10, 2021.
|
|
|
|
|
|
Click below
to get Adobe® Acrobat®
Reader®, a free
software that lets you view and print Adobe Portable
Document Format (PDF) files.
|
|
