Read it at Economonitor | Great Leap Forward
In his General Theory, J.M. Keynes argued that substandard growth, financial instability, and unemployment are caused by the fetish for liquidity. The desire for a liquid position is anti-social because there is no such thing as liquidity in the aggregate.
The Fetish for Liquidity (and Reform of the Financial System)
by L. Randall Wray
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