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Add comment on:Neoliberalism as the Godfather of the Financial Industry
Ernst Lohoff and Norbert Trenkle
Keynesianism was replaced by neoliberalism that guided the fallow investment capital into speculation. The development of social systems and the rise of real wages contributed to the social peace and also stabilized the economic upswing by strengthening mass consumption. All people in the world could live well and only need to spend a fraction of their lifetime in producing material goods if the possibilities in modern productivity were exhausted.
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