People's History of Europe (Part 1 - WWI through WWII) w/ Raquel Varela
Guerrilla History
00:00
Capitalism and the Great Recession
What we saw after the first world war was a huge development of capital accumulation. The only way at this moment where you can recover your profit rate is, of course, extending the labor and asking for public money. But when the crisis is such a big recession, this is not enough. You have to burn capital. So militarism is saying, look, we have to use the money of the state to do worse. This is the interim perilous war of the First World War. And so the bourgeoisie realized they have tried the Keynesian attempt, but there are two types of Keynesian answers.
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