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Recent Posts

New Economic Perspectives: Another Great Depression?

The implementation of New Deal policies created automatic stabilizers which work by putting a floor under aggregate demand, preventing a deflationary spiral, but they also put ceilings in place, as rapid economic growth translates into rising tax revenues which destroy income and temper the expansion. Nowadays, the size of the … It is now important to introduce how the level of investment is determined according to Minsky's framework. Firms invest if the demand … [...]