Re: [OPE] Paul Krugman and the political economy of insurance capitalism

From: Gerald Levy <>
Date: Sun Nov 22 2009 - 12:27:50 EST

> Of course, Paul Krugman is wrong that "the financial industry got us into
> the mess". That is just his shallow liberal ideology shining through. The
> economy was stagnating already before the financial crisis broke out.
> Indeed
> Bob Pollin devoted a whole book to it in 2003, "Contours of descent".
> A low-interest rate, low-inflation economic policy was promoted by the
> bourgeoisie as a whole, which powerfully stimulated debt growth to make
> money from arbitrage. Debt became big business.

Hi Jurriaan:

Current monetary policies still aims to promote low interest and inflation

In solidarity, Jerry

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Received on Sun Nov 22 12:29:29 2009

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