Steve Keen: Supply Chains and Pandemics

Keen believes that during a crisis — climate or pandemic — we need a centralized authority to take over and maintain civilization. We’ve been following the advice of neoclassical economists for about half a century. During the stagflation of the 1970s, Milton Friedman vanquished the last remnants of the Keynesian approach. Thus began the unshakable belief in deregulation, privatization, and globalization. Reduce the size of government and let the market take control. This ideology ignores the crucial fact that the economy exists inside the ecology; without the ecology, there is no economy. Without the ecology, there are no humans.

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