Prime Minister Kevin Rudd has followed up his critique of neoliberalism with a new essay in the Sydney Morning Herald andThe Age on the causes of the crisis, and the policies needed after recovery. With one exception, his key explanations for the crisis are the same as those identified by myself and the handful of other economists who predicted this crisis before it happened.
Where I differ again with the Prime Minister is over whether this government stimulus alone is sufficient to avoid a depression.
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