On Sun, Feb 6, 2011 at 12:55 PM, michael perelman <[email protected]> wrote: > Does this make sense? The surplus is invested to create more surplus > [assuming it is invested productively; the article does not suggested > that the surplus is used for speculation]. As the degree of > exploitation increases, still more surplus should appear. David > Harvey insists that the problem is finding an outlet for the surplus.
It is not just leftists like Harvey, even conventional economists do not hold the view that capital is scarce. Indeed it was Alan Greenspan and Ben Bernanke who were the earliest proponents of the "global savings glut" theory which basically says there is way too much capital (esp the leveraged financial kind) chasing yields. -raghu. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
