A crisis gone to waste

After the Great Depression, global capitalism underwent serious reform. Why didn’t that happen after 2008?

Matias Vernengo, Professor of Economics at Bucknell University, explains how a crisis can reveal that the dominant neoliberal orthodoxy is in fact based on a shaky theoretical foundation. But for new economic thinkers to capitalize on that requires a clearly articulated alternative—one that existed during the Cold War, but is just coming into public discourse now.


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