January 15, 2012
Surviving the Capitalist Tsunami
In the decades after 1945, it seemed that the economic and social problems of the developed world, which had threatened the complete destruction of civilization in the first half of the 20th century, had either been solved or were well on the way to a resolution.
Unemployment, the great scourge of the interwar years, had been reduced to the minimal levels associated with the inevitable frictions of matching workers and vacancies. Keynesian economic management and the New Economics of
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