[PEN-L:29551] Re: production & realization

["Ulhas Joglekar" <joglekarulhas@xxxxxxxxxxx>]

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