Jim D. wrote: >Laissez-faire_ (blatantly pro-business) capitalism of the sort that >prevailed in >the .1920s and the 1980s-90s eventually causes an >underconsumption undertow that >increasingly drags the system into crisis. >Counteracting influences -- such as >increasing extension of credit -- >eventually fail, so the economy falls, as happened in >1929-33 and seems to >be happening now. (However, we can't say yet that the >magnitude of the >current problem is as big as that of the 1930s.)
Could you explain what you mean by "an underconsumption undertow"? Is this different from usual underconsumptionist arguments? Ulhas
