Chris Dillow: Why economists need history
Chris Dillow argues Why economists need history
Reigning in monopoly power requires governments to overcome these forces. And that in turn requires the growth of either a threat to capitalism itself or at least a countervailing power to capital. It's no accident that capitalism was more equal (and productive) when there were strong trades unions and a threat of communism.
So yes, I think we do need intellectual (and social and economic) history - because it teaches us that meaningful improvements in economic policy must be a collective effort and not merely clever people proposing technocratic tweaks.
Emphasis Mine
This really requires a significant portion of the proletariat to raise its class consciousness enough to confront the forces of Capitalism. Using the ERA (experience, reflection, action) model, workers should:
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