So after 2008 we had a huge melt down of the global economy, which only resolute and smart but perhaps not wise intensive care by the US Federal Reserve saved the world from plunging into the return of the 1930s. Oh wait a minute history never repeats itself cos the starting conditions are different: really??
And from which Crash in many ways we have not recovered. When this last happened in the 1930s, economics reinvented itself, although Samuelson and Hicks and others made sure much of the reinvention was reversed or went off half cock and Friedman and others getting Nobel Prizes for BS economics completed the process of undermining classical Keynesian economics.
But despite the fact that economics, as taught in universities, spare me business schools, sans economic history, sans a history of economic thought, sans non Neo Classical orthodoxy, and sans any connection with reality. This economics is almost useless for reforming our current economy, as it heads to 1930s redux aka the Trump Slump as it will be called. Inequality and debt founded over financialized non value add centric planet destroying economies is what we have.
And despite that no one on the Left or progressive side can be assed to even learn a bit of economics, let alone drive it kicking and screaming towards major intellectual innovation and reform of its whole structure. Bah!…It’s the economy, stupid. Populism is not some culturalist bigoted preference at root.
I think that uses my rant allowance for the week….