@ChrisMayLA6@mastodon.me.uk Failure to understand social distribution of effective demand is rhe post-2008 tragedy. Low-interest after the 2008 crash and resulting possibility of quantitative easing ( #QE) could have been used both as helicopter money and for wage-intensive public investment such as houses. The UK housing crisis could have been eliminated, with huge consequential gains. But the LibDem breakthrough coincided with -#OrangeBook #neoliberalism, and Clegg missed the moment.:An epochal failure.