Moderator: There is a lot of interesting history in this article, but you do not have to be an economist to find its essential flaw: Trotskyism.
Perhaps that now sounds arcane to Millennial readers. It means the perspective of one whose feet are firmly planted in mid-air -- an obvious contradiction that spells over-arching subjectivity, the victory of the ideal over the real and material. In this case, the path of austerity, whether liberal, neo-liberal, or reactionary, is NOT driven primarily by subjective policy errors, or the tragic personal flaws of Bill Clinton.
But, enjoy the ride.
A Fabulous Failure: Clinton's 1990s and the Origins of Our Times
Bill Clinton and His Moment
The Clintonites Confront the Bond Market—and Retreat
Trade Policy and Politics
Misjudging Capital: Failure of Health Insurance and Labor Law Reform
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