Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
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Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

            } else {
$response = object(Cake\Http\Response) {

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    <h1 class="cat-box-title">Total Rerun of Neo-Liberal Policies Won’t Work in a Post-Pandemic World -Prabhat Patnaik </h1>
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                            <p style="text-align:justify">-Newsclick.in</p><p style="text-align:justify"><em>The Biden administration is realising this. The need of the hour, therefore, is to build a post-pandemic growth strategy centred on an increase in public investment and public spending.</em></p><p style="text-align:justify">The period of neo-liberalism witnesses an increase in the share of economic surplus in total output both in individual countries and also for the world as a whole. This is because the &ldquo;opening&rdquo; up of the economy to freer trade in goods and services leads to a rapid introduction of structural-cum-technological change, which, because of its labour-displacing character, keeps down the growth rate of employment, to even below the natural growth rate of the workforce.</p><p style="text-align:justify">The resulting increase in the relative size of the reserve army of labour restrains the level of real wages everywhere, even as labour productivity grows massively, causing a rise in the share of economic surplus.</p><p style="text-align:justify">Such a shift from wages to surplus, depresses the level of consumption demand, and hence aggregate demand, and causes a tendency toward an over-production crisis. Since fiscal conservatism at the insistence of finance capital, prevents any offsetting of this tendency through State spending, the only possible counter to it within a neo-liberal economy, is provided by asset price bubbles that also have the effect of boosting demand. But even if such a bubble perchance gets generated, that keeps at bay the over-production crisis for a while, its collapse again pushes the economy into a crisis.</p><p style="text-align:justify">Please <a href="https://www.newsclick.in/total-rerun-neo-liberal-policies-wont-work-post-pandemic-world?fbclid=IwAR1au4Wpj-SQ8-rBFVrucbL5XU_AqR5sniBqFL7G5pAkR_uMek2UMzinq3k" title="https://www.newsclick.in/total-rerun-neo-liberal-policies-wont-work-post-pandemic-world?fbclid=IwAR1au4Wpj-SQ8-rBFVrucbL5XU_AqR5sniBqFL7G5pAkR_uMek2UMzinq3k">click here</a> to read more.&nbsp;</p>                                                           
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    <h1 class="cat-box-title">Total Rerun of Neo-Liberal Policies Won’t Work in a Post-Pandemic World -Prabhat Patnaik </h1>
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                            <p style="text-align:justify">-Newsclick.in</p><p style="text-align:justify"><em>The Biden administration is realising this. The need of the hour, therefore, is to build a post-pandemic growth strategy centred on an increase in public investment and public spending.</em></p><p style="text-align:justify">The period of neo-liberalism witnesses an increase in the share of economic surplus in total output both in individual countries and also for the world as a whole. This is because the &ldquo;opening&rdquo; up of the economy to freer trade in goods and services leads to a rapid introduction of structural-cum-technological change, which, because of its labour-displacing character, keeps down the growth rate of employment, to even below the natural growth rate of the workforce.</p><p style="text-align:justify">The resulting increase in the relative size of the reserve army of labour restrains the level of real wages everywhere, even as labour productivity grows massively, causing a rise in the share of economic surplus.</p><p style="text-align:justify">Such a shift from wages to surplus, depresses the level of consumption demand, and hence aggregate demand, and causes a tendency toward an over-production crisis. Since fiscal conservatism at the insistence of finance capital, prevents any offsetting of this tendency through State spending, the only possible counter to it within a neo-liberal economy, is provided by asset price bubbles that also have the effect of boosting demand. But even if such a bubble perchance gets generated, that keeps at bay the over-production crisis for a while, its collapse again pushes the economy into a crisis.</p><p style="text-align:justify">Please <a href="https://www.newsclick.in/total-rerun-neo-liberal-policies-wont-work-post-pandemic-world?fbclid=IwAR1au4Wpj-SQ8-rBFVrucbL5XU_AqR5sniBqFL7G5pAkR_uMek2UMzinq3k" title="https://www.newsclick.in/total-rerun-neo-liberal-policies-wont-work-post-pandemic-world?fbclid=IwAR1au4Wpj-SQ8-rBFVrucbL5XU_AqR5sniBqFL7G5pAkR_uMek2UMzinq3k">click here</a> to read more.&nbsp;</p>                                                           
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The Biden administration is realising this. The need of the hour, therefore, is to build a post-pandemic growth strategy centred on an increase in public investment and public spending.

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    <h1 class="cat-box-title">Total Rerun of Neo-Liberal Policies Won’t Work in a Post-Pandemic World -Prabhat Patnaik </h1>
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                            <p style="text-align:justify">-Newsclick.in</p><p style="text-align:justify"><em>The Biden administration is realising this. The need of the hour, therefore, is to build a post-pandemic growth strategy centred on an increase in public investment and public spending.</em></p><p style="text-align:justify">The period of neo-liberalism witnesses an increase in the share of economic surplus in total output both in individual countries and also for the world as a whole. This is because the &ldquo;opening&rdquo; up of the economy to freer trade in goods and services leads to a rapid introduction of structural-cum-technological change, which, because of its labour-displacing character, keeps down the growth rate of employment, to even below the natural growth rate of the workforce.</p><p style="text-align:justify">The resulting increase in the relative size of the reserve army of labour restrains the level of real wages everywhere, even as labour productivity grows massively, causing a rise in the share of economic surplus.</p><p style="text-align:justify">Such a shift from wages to surplus, depresses the level of consumption demand, and hence aggregate demand, and causes a tendency toward an over-production crisis. Since fiscal conservatism at the insistence of finance capital, prevents any offsetting of this tendency through State spending, the only possible counter to it within a neo-liberal economy, is provided by asset price bubbles that also have the effect of boosting demand. But even if such a bubble perchance gets generated, that keeps at bay the over-production crisis for a while, its collapse again pushes the economy into a crisis.</p><p style="text-align:justify">Please <a href="https://www.newsclick.in/total-rerun-neo-liberal-policies-wont-work-post-pandemic-world?fbclid=IwAR1au4Wpj-SQ8-rBFVrucbL5XU_AqR5sniBqFL7G5pAkR_uMek2UMzinq3k" title="https://www.newsclick.in/total-rerun-neo-liberal-policies-wont-work-post-pandemic-world?fbclid=IwAR1au4Wpj-SQ8-rBFVrucbL5XU_AqR5sniBqFL7G5pAkR_uMek2UMzinq3k">click here</a> to read more.&nbsp;</p>                                                           
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    <br><a href="https://www.newsclick.in/total-rerun-neo-liberal-policies-wont-work-post-pandemic-world?fbclid=IwAR1au4Wpj-SQ8-rBFVrucbL5XU_AqR5sniBqFL7G5pAkR_uMek2UMzinq3k" class="re" target="_blank">Newsclick.in, 9 October, 2021, https://www.newsclick.in/total-rerun-neo-liberal-policies-wont-work-post-pandemic-world?fbclid=IwAR1au4Wpj-SQ8-rBFVrucbL5XU_AqR5sniBqFL7G5pAkR_uMek2UMzinq3k</a><div class="clear"></div>
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Total Rerun of Neo-Liberal Policies Won’t Work in a Post-Pandemic World -Prabhat Patnaik

Published on Oct 9, 2021   Modified on Oct 10, 2021

-Newsclick.in The Biden administration is realising this. The need of the hour, therefore, is to build a post-pandemic growth strategy centred on an increase in public investment and public spending. The period of neo-liberalism witnesses an increase in the share of economic surplus in total output both in individual countries and also for the world as a whole. This is because the “opening” up of the economy to freer trade in goods and services leads to a rapid introduction of structural-cum-technological change, which, because of its labour-displacing character, keeps down the growth rate of employment, to even below the natural growth rate of the workforce. The resulting increase in the relative size of the reserve army of labour restrains the level of real wages everywhere, even as labour productivity grows massively, causing a rise in the share of economic surplus. Such a shift from wages to surplus, depresses the level of consumption demand, and hence aggregate demand, and causes a tendency toward an over-production crisis. Since fiscal conservatism at the insistence of finance capital, prevents any offsetting of this tendency through State spending, the only possible counter to it within a neo-liberal economy, is provided by asset price bubbles that also have the effect of boosting demand. But even if such a bubble perchance gets generated, that keeps at bay the over-production crisis for a while, its collapse again pushes the economy into a crisis. Please click here to read more.

Newsclick.in, 9 October, 2021, https://www.newsclick.in/total-rerun-neo-liberal-policies-wont-work-post-pandemic-world?fbclid=IwAR1au4Wpj-SQ8-rBFVrucbL5XU_AqR5sniBqFL7G5pAkR_uMek2UMzinq3k

Tagged with: Joe Biden Neoliberalism Neoliberal Economics Fiscal Spending UNCTAD

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