[lbo-talk] Subprime crisis - overaccumulation?

Charles Brown charlesb at cncl.ci.detroit.mi.us
Fri Jan 18 07:13:42 PST 2008



>>> "James Heartfield"

The subprime crisis is indeed serious, but it is most certainly not the

manifestation of a crisis of overaccumulation, for the simple reason that the Western economies have not experienced overaccumulation - on the contrary, Europe in particular continues to experience historically low

rates of business investment, and has expanded largely through the incorporation of more, and cheaper labour, i.e. extensively.

^^^^ CB: Sorry for coming in late, but is Europe having a sub-prime crisis, too ?

^^^^^^^



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