/biz/ - Business & Finance

>>11882448
Richard Wolff was spot on in seeing the 2008 crisis coming, and only Marxian economists come to recognize the real role the rate of profit plays in the economy. This analysis, however, did not begin with Marx, it was pioneered and firmly believed in by Adam Smith and David Ricardo. But this analysis revealed inconvenient truths about the instability and unsustainability of capitalism in the long term, so it was discarded.

Check out
http://www.anwarshaikhecon.org/sortable/images/docs/publications/political_economy/1992/2-The%20Falling%20Rate%20of%20profit%20as%20the%20Cause%20of%20Long%20Waves_%20Theor.pdf

and
https://journals.sagepub.com/doi/abs/10.1177/048661348701900202

I think you'll find it's a much stronger explanation for deep economic crisis than mistaken flukes in the money supply, especially considering the wide range of policies employed to stop such crises to no avail.