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The Household and the State*
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Aug 16th 2021, Prabhat Patnaik
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The
erroneous analogy drawn between the household and the
state is meant to keep fiscal deficit and hence, government
expenditure restrained, even in situations of mass unemployment
owing to a deficiency of aggregate demand and this analogy
is, thus, extremely dangerous.
*
This article was originally published in People's
Democracy on August
15, 2021.
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