Tag Archives: high order industries

Why a new recession is quite possible

By Arthur Middleton Hughes The US has been going through a severe recession since 2008. Unemployment by 2011 is at 9.2%. GDP growth is less than 1.5%. Millions of unemployed have stopped looking for work. The picture is bleak. To … Continue reading

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The structure of Production

It is an essential feature of our modern “capitalistic” system of production that at any moment a far larger proportion of the available means of production is employed to provide consumer’s goods for some more or less distant future than … Continue reading

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Why we have recessions

Inflation has, of course, many other bad effects, much more grave and painful than is realized by most people who have not lived through a serious inflation. But the effect that is most devastating, and at the same time the … Continue reading

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