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The
author explores the paradox of why capitalists
are opposed to public expenditures even
in economies with high unemployment and
unutilised capacity despite the fact that
such investments would boost aggregate
demand. The answer lies in preserving
capitalists' control over the level of
output and employment and thereby maintaining
their hegemony over society.
*
This article was originally published
in the ''People's Democracy''.
August 24, 2012. |
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