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The golden age

"The 15-hour working week predicted by Keynes may soon be within our grasp - but are we ready for freedom from toil? An escape from what Keynes called the tunnel of economic necessity is still open to us. Yet it will require radical changes in the economic structures that drive the chase for money and in the attitudes shaped by a culture of consumption."
"It is now clear that market liberalism has failed in its own terms. It promised that if markets were set free, everyone would benefit in the long run. In reality, most households in developed countries experienced less income growth under market liberalism than in the decades of Keynesian social democracy after 1945. Of more immediate importance, except for the top one percent there has been no recovery from the crisis of 2008, and even worse looms ahead. And despite the initial success of the backlash against Keynesian macroeconomic policies, austerity is now failing in political as well as economic terms."

John Quiggin is the author of "Voodoo Economics" (2010).

to read "The golden age" published September 27, 2012 in www.aeonmagazine.com, click on


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Austerity is succeeding in evry way. 11.Oct.2012 08:08

Lloyd Hart dadapop@dadapop.com

If you think austerity is failing then you don't understand why the conservative and liberal elite are imposing austerity. Austerity is for pushing wages down and wiping out benefits entirely. Austerity is for creating generation of desperate youth that can be bought and killed cheap. Austerity is for cheaper prostitutes. Austerity is for war. While FDR was claiming to have the working people's back he was conspiring with his fellow ruling elite to finance the nazi's war machine to use them as a proxy against the Soviets, Lefty Jews, European Lefties, Gays and Gypsies. Then FDR sent America's cheap labor to war while the nazi leadership feigned resistance and were then rewarded with immense wealth and power in every south American country. If you think Hitler died in a ditch outside his bunker in Berlin then your seriously deluded. Hitler died an old, old man on a palatial estate in Brasil. So all you suckers who think they have pretty good bead on what the elite's are up to you are going to get a pretty hard lesson in the coming years.

RYiHCoJySZOtgek 18.Apr.2015 19:12

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