The ideology that markets would find their own efficient equilibria was dealt a near fatal blow by
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“The ideology that markets would find their own efficient equilibria was dealt a near fatal blow by the depth of the 1930s depression. The New Deal and the General Theory of Employment, Interest, and Money established the role of government intervention in the economy, as well as a focus on the inability of the private sector alone to create sufficient overall demand to maintain full employment.”
Discuss these two sentences in light of today’s economy.
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Energy And The Wealth Of Nations An Introduction To Biophysical Economics
ISBN: 305503
2nd Edition
Authors: Charles A S Hall ,Kent Klitgaard
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