Harry Shutt, "Redistribution and Stability: Beyond the Keynesian/Neo-liberal Impasse"
As the financial crisis that erupted in 2007 unfolds in an economic cataclysm which, it is now clear, is unprecedented in the history of capitalism, world leaders without exception reveal themselves as politically and ideologically bankrupt in their efforts to bring it under control. This is most obviously demonstrated by their insistence on the need for individuals and enterprises to boost their levels of consumption and fixed investment — with the aid of new loans from the financial sector — even though it is obvious that the immediate cause of the crisis has been the creation of excessive credit leading people (and businesses) to spend well beyond their means.
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