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The possibility that automation capital is idle has been so far neglected in the literature. However, we show that the departure from the full utilization assumption has significant transitional as well as long-run consequences for growth. We show that capital utilization can bring down the...
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economy in 2008/09, is rooted in the contradictions of finance-dominated capitalism. The author provides an in …-depth exploration of the macroeconomics of finance-dominated capitalism, its problems and its crisis, and presents economic policy … lessons and alternatives. In particular, he shows that since the early 1980s, finance-dominated capitalism has affected long …
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