A Glance in the Rear View Mirror: Neoliberal Ideology From by Eric Toussaint

By Eric Toussaint

Because the monetary problem keeps to shake the financial system it has started to show cracks within the ideology lengthy used to justify neoliberal rules. This expert and available primer drives a wedge into those cracks, permitting the non-expert to appreciate the issues within the financial philosophy of the 1%.

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Proof of Lemma 2 From the text, the objective probability of a match in an excess demand equilibrium is: (1− β) s( ps ) h(π ,β ) = where d(p b ) − βs( p s) ps = βp b + (1− β )p* − m(µ(β ))(1− β)(1− π) p b = πp * + (1− π )b p* = ωb + (1− ω )c. At an excess demand equilibrium, d(p* ) > s( p* ). This implies that: (1− β) s( p* ) / d( p* ) h(1, β ) = <1 1− βs( p* ) / d(p* ) Suppose that β∈[0, 1). As π approaches 0 from above, h(π,β) remains positive so that h(π,β) > π. 1) π = h(π,β) 32 has a solution π[β] in the open interval (0,1).

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