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The "Crisis exaggerators" are telling us that current economic conditions amount to an "Unprecedented" global economic recession. This is historically incorrect. What is unprecedented is the degree to which economic commentators and political leaders are talking up economic downturn. What is their agenda? Could it be an attempt to prepare the way for an "Unprecedented" degree of government intervention in the economy? The "New interventionists" - some of whom, like Kevin Rudd, are now calling themselves "Social democrats" - have attacked neoliberalism - the prevailing philosophy of Western governments over the past three decades - for failing to provide the direction and regulation needed to prevent the emergence of global financial crisis.
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