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The Great Recession: 2007-2017

“I know of no form of economic organisation based on the division of labour ( he refers to the Smithian view of a capitalist economy) , from unfettered laisser-faire to oppressive central planning that has succeeded in achieving both maximum sustainable economic growth and permanent stability.  Central planning certainly failed and I strongly doubt that stability is achievable in capitalist economies, given the always turbulent competitive markets continuously being drawn toward but never quite achieving equilibrium” .  He went on,  “unless there is a societal choice to abandon dynamic markets and leverage for some form of central planning, I fear that preventing bubbles will in the end turn out to be infeasible.  Assuaging the aftermath is all we can hope for.”  — the head of the Federal Reserve Bank (US) Alan Greenspan My comment: you know in life there are only two options. Yes, that how the global bourgeois ideology has made most of us believe.  "Central planning" or
"Young men in Asia and Africa often joined the army under duress. The war was fought for freedom, but Indian political demands were brushed aside in the 1940s, with nationalists enduring heavy-handed policing and imprisonment. The British state bungled food supply in its empire. In Britain, wartime food shortages caused hardship and great inconvenience; in India, they caused mass starvation. At least three million Bengalis died in a catastrophic famine in 1943, a famine that is almost never discussed. The famine's causes were a byproduct of the war, but as Madhusree Mukerjee has proved in her book "Churchill's Secret War," the imperial state also failed to deliver relief. Many soldiers signed up as volunteers to fill their bellies." Dunkirk, the War and the Amnesia of the Empire (NYT) A new Chinese nationalist action film