From The Union "Hardhead List"

Michael Perelman michael at ecst.csuchico.edu
Sun May 7 13:08:41 PDT 2000


Could he really be that smart?

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



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