BA 3340 Lecture Notes - Lecture 99: Planned Economy, Marshall Plan, Fordism
Document Summary
Important development that started to occur in wwii but really took shape aker 1945 aker wwii ended. Crises of 1930 s = mass unemployment situa:on in which orthodox ,main stream theory /main stream economics relied on an analysis relies on mental forces to solve the problem of mass unemployment na:on of prices. Logic of main stream ideology is that wages should be allowed to fall demand for labour would be ruled by employers and fewer workers would oxer their labour. Prices should be allowed to be regulated to balance markets state and business rela:on. New approach that is put forward in the 1930"s which challenges the orthodox free market. Capitalism is not a stable market system but reliance on money. New approach deploy talked about by john mayhank cambridge published an important book . In this book kenes cri:cized orthodox economic theory main stream theory.
