Heterodox
Note well: I am all in favour of the welfare state – a generous, decent, and humane one. But there is a terrible threat to the welfare state under the current system of neoliberalism and open borders.Take Europe as an example.The threat comes from the following factors:(1) market economies do not automatically adjust to full employment. The governments of Western Europe – in thrall to neoclassical economics and neoliberal insanity – refuse to use fiscal policy to create full employment. The...
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