Saturday, March 10, 2012

Understanding Unemployment: Keynesian vs. Marxian Explanations

Click here to access article by Ismael Hossein-zadeh from State of Nature. 

The author takes on the widely publicized Keynesian advocates and uses Marxian concepts to argue his central thesis: 
A major flaw of the Keynesian reform or restructuring package is that it consists of a set of populist proposals that are devoid of politics, that is, of political mechanisms that would be necessary to carry them out. They rest largely on the hope that, in an independent or disinterested fashion, the state can control and manage capitalism in the interest of all. This is, however, no more than wishful thinking, since in reality it is the powerful capitalist interests that elect and control the government, not the other way around.