Purchase of goods and services at a level lower than that of their supply.
- The model, which seeks to offset underconsumption in the private sector by increased public sector spending, was destined to failure precisely because it ignored land speculation.
- The latter, they said, also creamed off part of ‘surplus value,’ and so created the conditions for underconsumption.
- Searching for an alternative program, Roosevelt embraced the ideas of advisers who believed that the fundamental problem of the Great Depression was underconsumption.
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