Wed Sept 7, 2011
Here is a fascinating look at how conventional economics has failed.
Charles Smith suggests that Marx had it right in terms of production finally overwhelming consumption, hence we are in a deflationary environment.
The blog link contains some graphs showing that labor's cut of the pie is shrinking. This explains the rise of government unions and the last ditch labor efforts to resurrect Detroit, which Obama claims to be doing.
This may be my first on line book purchase!
Comments