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" "Economic systems come, and economic systems go. No economic system lasts forever. Capitalism is not likely to last forever, either.
Jim Stanford is the resident economist for the Canadian Auto Workers and founder of the Progressive Economics Forum. He holds a Master’s degree in Economics from Cambridge University, and a Ph.D. from the New School for Social Research.
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Kalecki thus precisely predicted the economic and political U-turn that occurred with the advent of neoliberalism. Kalecki also argued that fundamental institutional changes, especially regarding wage-setting and other aspects of the employment relationship, would be essential if full employment was to be sustained.