>So, you see this as a coming crisis of underproduction that Greenspan is
>trying to avoid ?
Yes, Gspan is trying to avoid a coming crisis of underproduction of surplus value, imperfect valorization of that mountain of capital. He is openly concerned whether this rapid rate of accumulation which given some upward pressure on OCC means enormous increase in amount of constant capital needs to be slowed down before that swollen mass of accumulated machinery and productive capacity will be idled due to shortage of workers. Accumulation founders not on lack of markets but underproduction of surplus value whether due to small base of valorization and/or insufficient rate of exploitation. Capital's crises are overcome first and foremost in the realm of production. As the orthodox would have it, this is a vindication of the materialist theory of history. Yours, Rakesh