On Tue, 13 Jul 2010, brad wrote:
> > ... because like all ideology it's simplistic and inflexible, in some
> > situations, like this one, it's dead wrong. They're sailing their own
> > system into the sandbars and they can't turn the wheel because they're
> > possessed by their own spell.
>
> Really? I think one of the key lessons to learn from neoliberalism is
> that there aren't necessarily immediate limits imposed by aggregate
> demand.
Um, that's the exactly the Keynesian point I'm making, Brad. The pro-austerity crowd takes as a given that there are. Even when making that mistake will cost capitalists lots of profits they didn't have to lose.
Michael