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Facts and history notwithstanding, the ideology of our times continues to be permeated by the belief that governments of capitalist societies have the knowledge and ability to eliminate economic fluctuations and achieve permanent full employment. The recent course of events has begun to introduce some tremors of doubt, but the resulting sprouts of skepticism have still not shaken economists, government officials, businessmen, tradeunion leaders, and the public at large out of their ultimate trust in the magical powers of government economic intervention.This article can also be found at the Monthly Review website, where most recent articles are published in full.Click here to purchase a PDF version of this article at the Monthly Review website.
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