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77

Class Interests and the Moulding of Schools of Economic Thought

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Pettifor, A. (2017). Class Interests and the Moulding of Schools of Economic Thought. In Pettifor, A. The Production of Money: How to Break the Power of Bankers. Verso, pp. 77-92

86

The progressive ‘euthanasia of the rentier’ was for Keynes the price society paid for securing full employment, decent public goods and services, and economic stability. Given that the rentier was hardly likely to engineer his or her own demise, then the assertion of public authority over the financial system was essential.

—p.86 by Ann Pettifor 3 years, 6 months ago

The progressive ‘euthanasia of the rentier’ was for Keynes the price society paid for securing full employment, decent public goods and services, and economic stability. Given that the rentier was hardly likely to engineer his or her own demise, then the assertion of public authority over the financial system was essential.

—p.86 by Ann Pettifor 3 years, 6 months ago

a condition of negligible or no economic growth in a market-based economy ("secular" as in "long-term", in contrast to "cyclical" or "short-term")

91

The economics profession regards the subsequent failure of economic activity as the new norm – ‘secular stagnation’. Interest rates are thought merely to reflect in a passive way this dismal outlook, one expected to extend indefinitely into the future.

—p.91 by Ann Pettifor
confirm
3 years, 6 months ago

The economics profession regards the subsequent failure of economic activity as the new norm – ‘secular stagnation’. Interest rates are thought merely to reflect in a passive way this dismal outlook, one expected to extend indefinitely into the future.

—p.91 by Ann Pettifor
confirm
3 years, 6 months ago