12/09/2016

Kalecki and Germany's arms exports

Kalecki
Kalecki had this to say  about  the forecasts in 'Political Aspects of Full Employment':
"Have  my predictions  of  that time  proved  correct?  I  think they  have,  though—as  is often  the  case  with  historical  predictions,  not  necessarily  in  every  detail.  In  my paper,  after  examining  the  sources  of  opposition  of  big  capital against  stimulating the  business cycle by means of government  spending, I foresaw that in  future crises  will  be  mitigated  in  this  way but not wholly prevented.  I  also predicted  that this government intervention would give rise to  a new  phenomenon  which  I called the 'political business cycle'. It  seems  that the present  course of  events corresponds grosso modo with those predictions. On the other hand, in  my  article the  policy  of  securing  full  employment  by  military  spending  was  linked  with  total fascism.  It  appears,  however, that a fascist coup is by no means necessary  for armaments  to  play  an  important  role  in  countering  mass  unemployment.  Yet,  it must  be  noted  that  in  the  United  States,  where  this  process  was  most  intensive, there  have indeed appeared some symptoms  of  fascism."

German arms exports almost doubled in 2015: report

German arms exports keep rising in 2016

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