So the PEN-L answer to "Bad" DeLong's question: "Given the absence of commercial crises and depressions in the AMP and the FMP, why wouldn't replicating the building of cathedrals, the building of aqueducts, or the conquest of Gaul stave off the crisis and so allow capitalism to engage in stable, balanced growth?"
is: "the political forces make such an outcome impossible"? Which would then raise the possibility that perhaps under a different alignment of political forces, it would in principle be possible to have a capitalism with stable growth, where crises are smoothed over by a wise state? Would it be accurate to say that Keynes project was precisely to create such an enlightened political environment? -raghu. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
