Doug Henwood wrote:
> I wonder sometimes if the New Economy
> rhetoric isn't a cover for deflation anxiety - or if maybe one is
> just a version of the other. If he's right about productivity, then
> there's a great risk of either excess capacity (e.g. the late 19th
> century) or underconsumption (e.g. the late 1920s), either of which
> could have severe deflationary implications.
>
> Doug
-- Michael Perelman Economics Department California State University Chico, CA 95929
Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu