@jalcine AFAICT the focus on consumption (i.e. demand) is almost entirely due to Keynes, who is a favorite of progressives.
@jalcine Hayek, on the other hand, said the collapse in demand during a recession was *healthy*, because it would cause liquidation of poorly run companies and the repurposing of their assets to things that actually make sense.
@freakazoid I got homework now
@pinkprius I hate telling my 6yo "at your age me and mom didn't have a fraction of the toys you have", but it's damn truth!
@pinkprius Karl Marx, crises of overproduction
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