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> 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?