Bill Mitchell: Keynes was wrong because he failed to consider class conflict

We will never reach the nirvana that Keynes envisaged because the structure of capital ownership will never permit it.

Governments can tinker around the edges but ultimately they have demonstrated a lack of resolve to stand up to the demands of capital.

Any currency-issuing government has the capacity to overpower capital should it desire.

But with revolving doors and all that, the politicians tend to move between their political office and their corporate office over time.

A fundamental shift in the system of production and ownership is required.

Getting there is the challenge and the problem.



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