4 ms·

Those who think the economy will recover should at least read this book https://www.amazon.com/Crisis-capital-effectiveness-useless-solve-ebook/dp/B08KCC878V/

• ornornor 6y ago
  Could you expand some, for the rest of us who didn’t read the book and can’t draw any conclusions based on your statement and the summary on the amazon page?
  • timka 6y ago
    We're entering another great depression and it's not b/c of the covid crisis which only hastened the process. The depression has deeper roots and should have come anyway but hasn't been recognized by mainstream Western economical science b/c of its decades long monoculture of sorts. Economics only recognizes recessions, the cyclic crises, but has no models or even a suitable language for describing another type of crises. This type of crisis was known in the USSR as the fall of capital effectiveness. The problem is that the dominant global economical model has the limit which has been reached. The limiting factor is supply chain length which at some point inevitably makes investments too risky. This idea has been briefly presented by the author in [1] among other submissions. [1] Mikhail Khazin, The Bretton Woods System: Beyond All Repair? Bretton Woods: The next 70 years (p. 181) https://www.researchgate.net/publication/320622832_Bretton_Woods_The_next_70_years https://www.researchgate.net/publication/320622832_Bretton_W...