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Politics : Formerly About Advanced Micro Devices
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To: TimF who wrote (349868)9/6/2007 10:36:35 PM
From: combjelly  Read Replies (1) of 1576160
 
"Slow pay increases didn't cause the depression"

It was a factor. With automobiles, electricity, etc., consumers were faced with an explosion of choices. But wealth was concentrated in a small number of hands, that being the tail end of the Gilded Age. So manufacturers had limits to their markets. And people had few reserves so that when they became unemployed, they fell all the way to the bottom. Which made the ones with a job more wary and even less likely to spend.

An economy requires markets. If there isn't sufficient wealth for the workers to form a market, then the companies need to export or lose their economy of scale.

You focus way too much on the investment end of the economy. Markets is why an economy exists. Otherwise, the investments are useless.
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