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Re: King of the Horizontalists ?
----------
>From: "É?×ÊÜà HenryC.K.Liu Ü??lü?" <hliu@xxxxxxxxxxxxxx>
>To: POST-KEYNESIAN THOUGHT <pkt@xxxxxxxxxxxxxxxx>
>Subject: Re: King of the Horizontalists ?
>Date: Sat, Feb 5, 2000, 5:06 pm
>
>An important underlying theme is that of excess capacity, which is now afflicting
>not only manufacturing and natural resources production worldwide, but is also
>spreading to distribution and services too.
What is called "excess capacity" is really excess demand. The era
of deficient demand is behind us. At the same time the concept of work
is undergoing a major reformation and this is prehaps why economists
have failed to appreciate the new problem.
Harry Veeder
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