id767100301
When the banks needed a bailout after 2008, the state was there to provide it. When asset markets failed to recover in the wake of this crisis, the state once again stepped up. When big businesses needed rescuing during the pandemic, the state was there to provide support. In that period, the state was even powerful enough to shut down the entire economy.
✏️ Here’s where that whole thing about the state being powerless, and trusting in the free market.. goes out the window.
Link to original
When things fail, everyone waits for the state to bail them out.
What happened to free market? Wouldn’t that be saying, “This is bad, so it dies.”?
🔗 View Highlight