Although underconsumption is not the whole story of the limitations of capitalism, it is still a significant factor. Without the buildup of household debt, the economy certainly would have grown much less and possibly could not have avoided a substantial downturn.
-- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu michaelperelman.wordpress.com _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
