Jim D: To really understand this "law," it's good to consider the alternative. First, Marx pointed to realization problems, where production Z > Y distributed in one sector (for whatever reason). This reduces demand for products of another sector, imposing realization problems there. The "multiplier" process can feed on itself, creating a general glut.
^^^ CB: Jim, with Marx's concept of exploitation as inherent to wage-labor/capital relations , and the fact that most of aggregate demand in the department of production of personal consumption commodities must come from the great mass of wage-laborers, does it follow that aggregate demand for personal consumption commodities ( goods and services) must be inadequate to purchase the whole supply ? In other words, it's not for whatever reason, but inherent to production by wage laborers who are never paid enough to buy all that they produce. This message has been scanned for malware by SurfControl plc. www.surfcontrol.com _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
