Bubbles, Stocks and Crashes*

Feb 21st 2018, Prabhat Patnaik

What the current U.S. experience shows is not only the role of bubbles in sustaining the level of activity under a neo-liberal regime, and hence the fact that the lives of millions depend upon the whims of a bunch of speculators, but also the completely evanescent and short-lived character of the booms in this period.

* This article was originally published in The People's Democracy February 20, 2018.

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