A critique of Capital (1): The problem with economics

by Sanjay Perera
In the introductory lines of a textbook on economics are these words: “Are Marxists correct in arguing that only vast expenditure on arms saves the capitalist countries from a return of mass unemployment? Or have we now learned…how to avoid forever such devastating situations? Why, then, in the late 1970s, did unemployment in Britain, the United States and several other countries reach the highest levels ever attained since the Great Depression of the 1930s?” Continue reading A critique of Capital (1): The problem with economics

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