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The headline doesn't match the article. The article ends with "And so economists dusted off Keynes. Countries that enthusiastically followed his advice and use
by joshuaellinger 7y ago
The headline doesn't match the article.
The article ends with "And so economists dusted off Keynes. Countries that enthusiastically followed his advice and used public funds to stimulate demand came out of the recession much better off than those that hesitated. China’s decision in 2008 to inject stimulus spending worth more than 12% of GDP looks smart in retrospect."
The title should really say -- "Keynes was right. Gen Z is screwed because we didn't follow his advice".
But the poor fortunes of Gen Z (in the US) are mostly due to a shift in power to big corporations caused by a systematic dismantling of labor unions and the outsourcing of manufacturing to China. Technology is an enabler but not the central culprit.