On Wed, 4 Jun 1997, William Meecham wrote:

> Comment below that over production caused the great depression; correct.
> More generally over production is the fatal flaw in capitalism, thus panics
> recession crashes, depressions.

No, I disagree. The flaw is in the way money is both created and
distributed. There is no economic requirement that a consumers purchasing
power must be set by their employment in the system of
production. It is just a moral argument.

  One aspect of this is automation.  Clearly
> leading to large scale unemployment; and this can be averted only as in
> France: reduce the work week at the SAME pay

Harry Veeder