Why Capitalism Won’t be Saved by New Deal Keynesian Interventions

Since the rise of market fundamentalism in the 1980’s, the fair treatment of Keynesian economics (state intervention into capitalism) has been given short-shrift in economics classes. But since the 2008 crash, reformers of capitalism such as Paul Krugman, Joseph Stiglitz and more popularly, Naomi Klein and Robert Reich, have rushed to the defense of capitalism by resurrecting Keynesian economics to solve capitalism’s crisis. They ignore that Keynesian had already shown it limits by the early 1970’s.

Read at Michael Robert’s Blog

About Bruce Lerro

Bruce Lerro has taught for 25 years as an adjunct college professor of psychology at Golden Gate University, Dominican University and Diablo Valley College. He has applied a Vygotskian socio-historical perspective to his five books: "From Earth-Spirits to Sky-Gods: the Socio-ecological Origins of Monotheism, Individualism and Hyper-Abstract Reasoning", "Power in Eden: The Emergence of Gender Hierarchies in the Ancient World" (co-authored with Christopher Chase-Dunn), "Social Change: Globalization from the Stone Age to the Present", "Lucifer's Labyrinth: Individualism, Hyper-Abstract Thinking and the Process of Becoming Civilized", and "The Magickal Enchantment of Materialism: Why Marxists Need Neopaganism". He is also a representational artist specializing in pen-and-ink drawings. Bruce is a libertarian communist and lives in Olympia, WA.

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