Keynesianism vs. Reaganism: Professor Richard Wolff Summarizes the Decades-long Struggle & Explains Why It's Important

To Keynes in the early 1930s it was obvious that our capitalist economic system was not working, AND that it would certainly not "self-correct" without an enormous amount of unnecessary destruction and pain. Many millions were unemployed and remained unemployed while huge portions of the country's productive apparatus were sitting idle, producing nothing, providing no jobs. Clearly federal intervention would be required.

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