>>> SAckerman at FAIR.org 01/10/01 03:31PM >>>
> ----------
> From: Brad DeLong[SMTP:delong at econ.Berkeley.EDU]
> Reply To: lbo-talk at lists.panix.com
> Sent: Wednesday, January 10, 2001 1:55 PM
> To: lbo-talk at lists.panix.com
> Subject: Re: Atlas Flinched
>
> I do not take this view. I find the explanation of the current
> business losses, of the reduction in output, and of the unemployment
> which necessarily ensues on this not in the high level of investment
> which was proceeding... but in the subsequent cessation of this
> investment. I see no hope of a recovery except in a revival of the
> high level of investment. And I do not understand how universal
> bankruptcy can do any good or bring us nearer to prosperity...
>
>
> He was right then. He is right now.
>
>
But what if the outburst of productive investment increases the capacity to
produce things that people don't want or need, or don't need that much of?
((((((((
CB: Or don't have enough money to buy ?