SOSC 1000 Lecture Notes - Lecture 8: Nels Anderson, Bourgeoisie, Money Supply
8 Feb 2016
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Document Summary
Economists are unhappy when they have to examine variables that are not easily measured by something like a price earnest. Mid 1970s keynes full blown crisis: from the ideological right and left. There were academics that have never reconciled themselves to. Keynesianism: their ideas become the basis of attack from ideological right when keynes system is in crisis. People who produce wealth no longer interested in doing so because of taxation. People who make their living selling their labour in free market economy become lazy. So protected by keysianism that they don"t want to work unemployment, social assistant. Not realistic in market economy: big labour. Organized labour to extort unwanted benefits and wage increases, making capital less and less competitive in global economy model: advocates a return to the old orthodoxy to the smith. Night watchman state back to that one: problem with keysianism: government has become.
