---------- > From: Harry Veeder <[log in to unmask]> > To: [log in to unmask] > Subject: Re: [CHOMSKY] definition of capitalism, OVEE PRODUCTION > Date: Wednesday, June 04, 1997 1:47 PM > > 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. Was it a moral argument in the Tulip Panic?