The reason for virtual disappearance of great depressions is the new attitude of the electorate... [E]conomic science knows how to use monetary and fiscal policy to keep any recessions that break out from snowballing into lasting chronic slumps. If Marxians wait for capitalismto collapse in a final crisis, they wait in vain. We have eaten of the Fruit of the Tree of Knowledge and, for better or worse, there is no returning to laissez faire capitalism. The electorate in a mixed economyinsists that any political party which is in powerÂ

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