Worldwide, the state has recently reassumed a greater role in the economy, including firm sustainers of the neoliberal philosophy. ++ The adoption of Keynesian measures has been seen as an unavoidable step to counteract the undesirable consequences of excessive deregulation of financial markets. ++ These measures are, however, provisional and will disappear as soon as the crisis is tamed. ++
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Keynesian economics prevail in times of economic turmoil. ++ Britain should “expect plans for higher borrowing, tax cuts, and more spending in Monday’s pre-Budget statement.” ++ While economists and politicians differ on intervention policies, Keynes emphasized the importance of restoring market confidence and preventing recessions from becoming politically dangerous. ++ “In a depression, a
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