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Dig: Monetary Politics w/ Tim Barker

Jacobin Radio

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Is There a Rational Basis to Capitalism?

There's actually a real risk involved in investment which is that there won't be demand there to sort of validate the investment once it's finished. A lot of those firms ended up really wiped out because there wasn't actually the final demand there and there's a kind of over expansion. OPEC also launched sort of a coordinated assault on the American fracking boom exactly right so there was this you know situation where there's there's global capacity controlled by a fairly effective cartel which can exaggerate these things already present in the market.

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