What remains to be tried is helicopter money, a half-serious Milton Friedman recipe for stimulating a sluggish economy with sure-fire monetary means: throw money from helicopters, so people can pick it up and go shopping, and all will be fine.
The collapse of ‘privatized Keynesianism’ in 2008 was far from ending the sequence of crises of postwar capitalism that began in the 1970s.
[...] not even the greatest optimists claim that enough has been done to make the financial industry safe for society, while there are quite a few voices, both insiders and outsiders, that insist that whatever change there may have been is not sufficient to protect the global economy from another f…
While the verdicts of ‘the market’ can present themselves as ‘just’ – in the sense of objective – having come about sine ira ac studio according to universal, non-particularistic, impersonal rules, political intervention in the ‘free play of market forces’ tends to be perceived as exploitation of the general public by powerful special interests.
[...] Until now, of course, longer-term growth rates have been falling together with peak tax rates, and so has the average tax take of rich democracies. Worse still, in parallel with the declining taxability of firms, their claims for national and regional infrastructure have become more demanding…
