Where Did All The Money Go?
Chapter 3: Mass Production, Income, Exports, and
Chapter 3: Mass Production, Income, Exports, and Debt
examines the historical relationship between the rise of mass-production
technologies in the United States over the past one hundred years and 1) the
current account surplus, 2) the concentration of income, 3) the creation of
mass markets, 4) changes in debt, and 5) economic instability. It also
explains the fundamental thesis of this work. Namely, the extent to which a
society is able to take advantage of mass-production technology is limited
by the extent of its mass markets which, in turn, are limited by 1) the
distribution of income within that society, 2) the extent of its current
account surplus, and 3) the extent to which it is possible to increase debt
relative to income.
Where Did All the Money Go? How Lower Taxes, Less
Government, and Deregulation Redistribute Income and Create Economic Instability
Click here for a