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Yet Another Contradiction of
Capitalism*
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Jan 3rd 2022, Prabhat Patnaik
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Keynes
believed that mass unemployment under capitalism could
be prevented through state intervention; but even in
the US, the ability of the State to stimulate domestic
economic activity has become constrained. This is a
new basic contradiction that has emerged in world capitalism
and deserves serious attention.
*
This article was originally published in People's
Democracy on January
2, 2022.
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