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Trouble Brewing

Summary:
On multiple levels, in both the Third World and the developed world.[embedded content]It doesn’t have to be a catastrophe, however, since Western governments can implement a large-scale industrial policy to bring back manufacturing and reverse the trend of de-industrialisation.The mass unemployment that will result must be solved by government programs to create socially and economically useful work for decent wages, and maintenance of aggregate demand by fiscal policy.

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On multiple levels, in both the Third World and the developed world.

It doesn’t have to be a catastrophe, however, since Western governments can implement a large-scale industrial policy to bring back manufacturing and reverse the trend of de-industrialisation.

The mass unemployment that will result must be solved by government programs to create socially and economically useful work for decent wages, and maintenance of aggregate demand by fiscal policy.

Lord Keynes
Realist Left social democrat, left wing, blogger, Post Keynesian in economics, but against the regressive left, against Postmodernism, against Marxism

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