>>What I termed supply-side recession.<<
You mean, there is no problem with the supply side, there's plenty of unused capacity, but there's not enough demand?
I think that, anyway, and if that is what you think, I think so, too.
Been thinking about it a lot, lately. The problem with the thoughts I have is that they don't fit easily into a Classical, free-market economic framework.
The world is full, full, full of people who don't have their demands filled, don't even have their minimum demands fulfilled, but they don't have the cash to pay for what they need, much less what they want. So we can't sell them an SUV, much less a Lexus, but maybe some rice, a new T-shirt, a pair of shoes, and go from there? |
