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The world crisis which began in 1929, the longest ever known, caused people entirely unconnected with and even hostile to the working-class movement to speak of 'crisis' and even of the 'collapse of capitalism'. The economic and financial smash of 1929 ruthlessly disposed of the illusion that capitalism was about to experience an era of lasting prosperity and harmony. Liberalism observed with horror that the actual course of ignored all its good advice. Today the doctrine of liberalism is practically dead, but, at least, its few remaining defenders can console themselves by noting the disastrous effects of. (en) |
