Why do Radicals maintain capitalism will always tend to enter into crisis?
Solution
Keynes challenged Say’s law that supply will create its own demand, and argues it is
incompetent to tackle the problems of unemployment and of the trade cycle. The radicals believe
that capitalism has reduced the need for work, blurred the edges between work and free time and
loosened the relationship between work and wages. Information is corroding the market’s ability
to form prices correctly because markets are based on scarcity while information is abundant.
They feel the system’s defence mechanism is to form monopolies. Goods and services are
appearing no longer responsive to the dictates of the market and the managerial hierarchy.
Parallel currencies, time banks, and cooperatives have been proliferated and the whole swaths of
economic life are beginning to move to a different rhythm.
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Why do Radicals maintain capitalism will always tend to enter into c.pdf
1. Why do Radicals maintain capitalism will always tend to enter into crisis?
Solution
Keynes challenged Say’s law that supply will create its own demand, and argues it is
incompetent to tackle the problems of unemployment and of the trade cycle. The radicals believe
that capitalism has reduced the need for work, blurred the edges between work and free time and
loosened the relationship between work and wages. Information is corroding the market’s ability
to form prices correctly because markets are based on scarcity while information is abundant.
They feel the system’s defence mechanism is to form monopolies. Goods and services are
appearing no longer responsive to the dictates of the market and the managerial hierarchy.
Parallel currencies, time banks, and cooperatives have been proliferated and the whole swaths of
economic life are beginning to move to a different rhythm.
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