@jdportes @georgemagnus1 @michaelxpettis @charlotsmoore @t0nyyates Already in 1936 Germany is approaching full employment with military spending surging above 10% gdp. capacity constraints everywhere -> “war economy” condition is met. Extra credit/extra AD does NOT increase AS. Indeed regime economists fear repressed infection reduces AS.
RT @BJMbraun: How to be an effective political economist: Laser focus on the neuralgic points of the state-market nexus, follow
May 18, 2023
RT @BJMbraun: How to be an effective political economist: Laser focus on the neuralgic points of the state-market nexus, follow the money,…