Topic
Underconsumption
About: Underconsumption is a research topic. Over the lifetime, 98 publications have been published within this topic receiving 1248 citations.
Papers published on a yearly basis
Papers
TL;DR: The authors assesses the sources of potential instability of China's political economy by expositing the limits of the post-Mao regime of capital accumulation in historical and comparative perspectives, and argues that the new spatial and socio-political orders under this regime, while propelling China's economic miracle, also contribute to the internalization of the global overaccumulation crisis which has been haunting the world capitalist system since the late 1960s, into China's national economy.
Abstract: This paper assesses the sources of potential instability of China's political economy by expositing the limits of the post-Mao regime of capital accumulation in historical and comparative perspectives. It argues that the new spatial and socio-political orders under this regime, while propelling China's economic miracle, also contribute to the internalization of the global overaccumulation crisis, which has been haunting the world capitalist system since the late 1960s, into China's national economy. Whereas decentralization of regulatory authority of the state accelerates overinvestment among local economic agents, breakdown of the Maoist social compact and the subsequent class polarization foster underconsumption. The resulting structural imbalance of the economy leads to the risk of falling profit across key sectors and China's over-reliance on the export market, the expansion of which has hinged much on the debt-financed and unsustainable consumption spree in the US. A full-fledged overaccumul...
202 citations
TL;DR: In this paper, the authors present a taxonomy of the main types of economic activities in the U.S. economy, including the following: employment, income distribution, consumer debt, and consumer price index.
Abstract: Contents: Introduction Agency Edward J. McKenna and Diane C. Zannoni Australia J.E. King Austrian School of Economics Stephen D. Parsons Babylonian Mode of Thought Sheila C. Dow Balance-of-payments-constrained Economic Growth J.S.L. McCombie Banking Gillian Hewitson Bastard Keynesianism John Lodewijks Behavioural Economics Therese Jefferson and J.E. King Brazil Luiz Fernando de Paula and Fernando Ferrari-Filho Bretton Woods Matias Vernengo Budget Deficits Joelle Leclaire Business Cycles Peter Skott Cambridge Economic Tradition G.C. Harcourt Capital Theory Ben Fine Central Banks Fernando J. Cardim de Carvalho Chartalism Sergio Rossi Choice under Uncertainty Victoria Chick and Sheila Dow Circuit Theory Riccardo Realfonzo Competition Nina Shapiro Consumer Debt Robert Scott III Consumer Theory Marc Lavoie Consumption David Bunting Conventions David Dequech Credit Rationing Martin H. Wolfson Critical Realism Andrew Brown Development Finance Rogerio Studart Econometrics Paul Downward Economic Development Stephanie Blankenburg and Gabriel Palma Economic Policy Malcolm Sawyer Effective Demand Mark Setterfield Efficient Markets Hypothesis Mark Hayes Employer of Last Resort Pavlina Tcherneva Employment Engelbert Stockhammer Environmental Economics Adrian Winnett Environmental Policy Neil Perry Equilibrium and Non-equilibrium Donald W. Katzner Exchange Rates John T. Harvey Expectations Eric Tymoigne Export-led Growth Arslan Razmi Financial Instability Hypothesis Louis-Philippe Rochon Financial Markets Jorg Bibow Financial Reform Aldo Barba Financialization Till Van Treeck Fiscal Policy J.W. Nevile Full Employment Bill Mitchell and Martin Watts Fundamentalist Keynesians Bill Gerrard Galbraith's Economics Stephen P. Dunn Gender Colin Danby Germany and Austria Torsten Niechoj Global Financial Crisis Stephanie Blankenburg Growth and Income Distribution Carlo Panico Growth Theory Steve Keen Households Zdravka Todorova Income Distribution Thomas I. Palley Inflation John Smithin Innovation Jerry Courvisanos Institutionalism Steven Pressman International Economics Robert A. Blecker International Financial Reform Leanne Ussher Investment Tracy Mott Italy Andrea Pacella and Guido Tortorella Esposito Japan Toichiro Asada Joan Robinson's Economics Maria Cristina Marcuzzo Journal of Post Keynesian Economics Phillip Anthony O'Hara Kaldorian Economics A.P. Thirlwall Kaleckian Economics Jan Toporowski Keynes's General Theory Paul Davidson Keynes's Treatise on Money Giuseppe Fontana Keynes's Treatise on Probability Rod O'Donnell Latin American Structuralism Gerardo Fujii Liquidity Preference Stephanie Kelton (nee Bell) Macroeconomic Methodology Jesper Jespersen Marginalism Harry Bloch Market Governance Tuna Baskoy Microfoundations Steven Fazzari Monetary Policy Peter Howells Money L. Randall Wray Money Manager Capitalism Yeva Nersisyan Multiplier Andrew B. Trigg New Classical Economics Alessandro Vercelli New Keynesian Economics Wendy Cornwall New Neoclassical Synthesis Sebastian Dullien Non-ergodicity Stephen P. Dunn Open Systems Andrew Mearman Pluralism in Economics Rob Garnett Prices and Pricing Gyun Gu and Frederic S. Lee Price Rigidity Jordan Melmies Production Amitava Krishna Dutt Profits Elizabeth Webster Rate of Interest Massimo Pivetti Regional Monetary Policy Carlos Fuentes Saving Robert Pollin Say's Law Claudio Sardoni Socialism Howard J. Sherman Sraffian Economics Gary Mongiovi Stagflation Mark Setterfield and John Cornwall (A ) Stock-Flow Consistent Modeling Tarik Mouakil Sustainable Development Jerry Courvisanos Technology and Innovation Amaia Altuzarra Time in Economic Theory John F. Henry Time-series Econometrics Flavia Dantas Tobin Tax Philip Arestis Transition Economies Christine Rider Traverse Peter Kriesler Uncertainty Murray Glickman Underconsumption J.E. King Unemployment Mathew Forstater University of Missouri - Kansas City Frederic S. Lee Wage- and Profit-Led Regimes Eckhard Hein Wage Deflation Jan Priewe Walrasian Economics M.C. Howard Welfare Economics Tae-Hee Jo Index
138 citations
Book•
17 Dec 1993
TL;DR: The theory of crisis in the early works of the Marxist tradition is studied in this article, where the falling rate of profit and the Tendency to crisis are discussed and the General Law of Capitalist Accumulation is discussed.
Abstract: Introduction: Marxism and the Theory of Crisis - The Theory of Crisis in the Marxist Tradition - Overproduction and Crisis in the Early Works - Production, Circulation and Global Crisis after 1848 - Money, Capital and Crisis in the Grundrisse - Underconsumption, Disproportionality and Overproduction - The Falling Rate of Profit and the Tendency to Crisis - Crises and the General Law of Capitalist Accumulation - Conclusion - Bibliography - Index
123 citations
Posted Content•
1 Jan 1998
TL;DR: The question of whether the business cycle is alive or dead was first raised in the early 1970s by as discussed by the authors, who used as textbook for a course Wesley Mitchell's 1927 survey of business cycles, also Alvin Hansen's Business-Cycle Theory of the same year.
Abstract: Is the business cycle dead? Or should the question be, “Was the business cycle ever alive?” After most periods of extended expansion, particularly if they also happen to be eras of bubbly capital gains, talk about a “New Era” geysers up and, what is more important, such talk is received with increasing credulity. In my lifetime I have seen the soda fountain come into, and go out of, the American drug store. So too with the university course in business cycles. At the beginning of my teaching career, we had no courses in macroeconomics as such, but we always did have a basic course in Money and Banking. And to supplement that there was sure to be a course called Business Cycles. I used as textbook for that course Wesley Mitchell’s 1927 survey of business cycles a la National Bureau of Economic Research, also Alvin Hansen’s Business-Cycle Theory of the same year. But superseding them came Gottfried Haberler’s 1937 Prosperity and Depression, whose pages presented the embalmed bones of pre-General Theory orthodoxy: monetary theories of the cycle; overinvestment theories; underconsumption theories; exogenous theories such as sunspots, as well as endogenous theories like those that combined the acceleration principle and the multiplier. My Harvard teacher Joseph Schumpeter’s 1939 two-volume treatise is almost a parody of eclecticism: It described short cycles under the Kitchin-Crum terminology; then the good old business cycle of allegedly eight to ten years’ periodicity was labeled Juglar cycles; and of course there were also the long waves of Kondratieff and the Sunday newspaper supplements. But that was not the whole of it. In between Juglars and
87 citations
1 May 2011
TL;DR: From the current crisis to possible futures as mentioned in this paper, Calhoun and Derluguian present a series of series of contributions to the analysis of global economic crisis, from the present crisis to the future.
Abstract: Series Acknowledgments Series Introduction: From the Current Crisis to Possible Futures Craig Calhoun Introduction Craig Calhoun and Georgi Derluguian1 The End of the Long Twentieth Century Beverly J. Silver and Giovanni Arrighi2 Dynamics of (Unresolved) Global Crisis Immanuel Wallerstein3 The Enigma of Capital and the Crisis This Time David Harvey4 A Turning Point or Business as Usual? Daniel Chirot5 Marketization, Social Protection, Emancipation: Toward a Neo-Polanyian Conception of Capitalist Crisis Nancy Fraser6 Crisis, Underconsumption, and Social Policy Caglar Keyder7 The Crisis of Global Capitalism: Toward a New Economic Culture? Manuel Castells 8 The Convolution of Capitalism Gopal Balakrishnan9 The Future in Question: History and Utopia in Latin America (1989-2010) Fernando Coronil Notes About the Contributors Index
47 citations
Related Topics (5)
Performance Metrics
| Year | Papers |
|---|---|
| 2021 | 1 |
| 2020 | 4 |
| 2019 | 3 |
| 2018 | 2 |
| 2017 | 2 |
| 2016 | 4 |