underconsumption again--and Luxemburg

boddhisatva foucault at eden.rutgers.edu
Mon Jan 30 23:48:32 MST 1995



	
		In response to Mr Keen,


	I'm sorry if I was arguing with a point you did not make.  I will go
on, however, to point out that the "external constraint" of a lack of
"resource slack" assumes a very static model of an economy.  Complex
industries, (take aerospace) are always years ahead of both actual and
possible markets for their goods.  Your model coincides alarmingly with the
assumptions made by Lee Iacocca, for example, that socialist workers lack the
capacity for strategic business.  I posit that socialis workers will keep
much in the bank and pay themselves very reasonably.  They will have the same
slack that capitalist firms have because they will be making the same
resource decisions.  Now, it may be that a socialist system will produce an
economy so vital that it strains at its own capacities.  I yearn for that
day.


peace

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