[Marxism] It’s all going pear-shaped | Michael Roberts Blog

Louis Proyect lnp3 at panix.com
Sat Aug 24 07:31:11 MDT 2019

The impending global recession has also concentrated the minds of 
mainstream economics.  A division of opinion among mainstream economists 
has broken out over what economic policy to adopt to avoid a new global 
recession. Orthodox Keynesian, Larry Summers, former US treasury 
secretary under Clinton and Harvard professor, has argued the major 
capitalist economies are in ‘secular stagnation’. So he reckons monetary 
easing, whether conventional or unconventional, won’t work. Fiscal 
stimulus is needed.


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