okay i’m gonna try out an idea and tell me if it’s totally off base and wrong: the lack of a robust welfare state in the us is a determinant of financial crises for three reasons 1) pension funds are big institutional investors seeking yield in risky products,
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yeah i think that’s right
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I don’t think you can ignore the historical development of what the ‘Keynesian model’ actually was over the postwar and its transformation after neoliberalism. Pre-neoliberal Keynesianism had a much friendlier attitude towards public investment
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In Britain that’s even more true than the US. It’s only after the 80s that the Anglo-American economic orthodoxy becomes strictly monetary policy only
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