SubscribeIt’s Hard Being a Bear (Part Six)?Good Alternative Theory?
If the economy does in fact recover from the Global Financial Crisis— without private debt levels once again rising relative to GDP —then my approach to economics will be proven wrong. But this won’t prove conventional neoclassical economic theory right, because, for very different reasons to those that I put forward, modern neoclassical economics argues that the government policy to improve the economy is ineffective. The success of a government rescue would thus contradict neoclassical econo
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