139. – Infinite Crisis (ft. Phil Neel)
This Machine Kills
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The Animal Spirits of a Bull Market, Right?
In the years after two thousand eight, the main stream economic discipline was in sham s as it attempted to explain away its own long term denial of the crisis that had just occurred. It was in this context that the term secular stagnation was revived by none other than larry somers, former treasury secretary under clinton and head of the national economic council under obama. This signalled the re pening of main stream economics to crisis theory, which had long been excluded from the accepted orthodoxy. But again, these aren't theories of crisis. This is just them saying, this is how these things work. Work, workr we move on from a this kind of, you know, business
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