Philosophy 3810F/G Lecture : The Golden StraightJacket

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Neoliberalism y deregulating trade is beneficial to society. Milestones of global capitalism y fairly fundamental change in the way that capitalism is grown y capitalism since the great depression has been changed in two distinct way: keynesianism/ welfare state/fordism. An economist, developed policy framework that became the dominant framework in post depression capitalism in affluent states. The account of what the problem was is aggregate demand, there was overproduction in the marketplace. The solution was to stimulate demand by forcing governments to buy stuff or giving the population money in order to absorb the demand created. Macroeconomic approach (demand approach): government spending (borrowing) to raise the level of aggregate demand to stimulate spending and absorb the surplus. This worked well for quite some time - launched a wave of prosperity or the. Gb low levels of unemployment, and great amounts of economic prosperity and stability.

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