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dgb23last Friday at 11:05 AM1 replyview on HN

The financial markets collapsed in 2007/2008 and survived because of government intervention.


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epolanskilast Friday at 1:28 PM

I well remember what happened in 2008 (caused by government's deregulation by the way, not "technocratic managerialist", whatever it means).

Despite the severity of what happened, jobs rapidly recovered and were around the same pre-financial crisis levels (and well above US averages) in a matter of few years and workers earnings were at or above 2008 levels (inflation adjusted) by 2016.

All in all, as severe 2008 was, I don't see how free market economy made it more, rather than less severe. It's at best an opinion.

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