Kalecki |
"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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