You see the cause of slumps under capitalism is easy to discern and, as a result, what to do to avoid them is also straightforward. John Maynard Keynes sorted this out nearly 70 years ago – and without any reference to Marx or any other theorist of crises.
So says Philip Pilkington in a recent post on his blog (Keynes’ Theory of the Business Cycle as Measured Against the 2008 Recession). Pilkington is a research assistant at Kingston University and member of the Political Economy Research Group (PERG) at Kingston University, a UK centre of radical post-Keynesian economists, with its economics department now headed by the brilliant Steve Keen (see my post, http://thenextrecession.wordpress.com/2012/04/21/paul-krugman-steve-keen-and-the-mysticism-of-keynesian-economics/.) Pilkington blogs at http://fixingtheeconomists.wordpress.com/
Pilkington tells us that Keynes sorted all this out in Chapter 22 of the General Theory when he discussed the nature of the ‘business cycle’ and Pilkington concludes that of…
Δείτε την αρχική δημοσίευση 2.059 επιπλέον λέξεις