Insufficient demand?
»Insufficient private spending to make use of the available productive capacity have become the clear and present limitation on prosperity for a large part of the world.«
Prof. Paul Krugman
In the market economy, the low level of private consumption becomes the global impediment to wealth!
Within the framework set by market economy this absurdity is not surprising. »Economy = Market Economy« does work like that. Only those can eat in market economy that can pay for it and if not enough people can pay, there is no reason for production. Thus, mass destitution and existing riches can simply go hand in hand. In the name of being »realistic«, the refusal to think in larger, more radical ways obviously boxed the majority of the population into such narrow options.
(C) 2008 - All rights reserved