Map of Tagerschen

Map of Tagerschen on F. Mummery. This book contained the first systematic exposition of Hobson’s under-consumptionist thesis, which he was to spend much of his life attempting to defend. Under-consumptionist theories were by no means new to 19th-century economic thought, but Hobson’s was one of the more sophisticated and persuasive examples of the genre. Market economies, he maintained, were not self-regulating as classical political economy had assumed, but tended to result in the accumulation of excessive amounts of capital in the hands of a wealthy elite. This mal-distribution of income was the principal cause of slumps, depriving as it did the masses of purchasing power and manufacturers of profitable markets for their goods. Over-saving and over-investment, in Hobson’s view, could best be prevented by state regulation of the economy, in particular by means of redistributive taxation. Map of Tagerschen 2016.

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Map of Tagerschen Holiday Map Q.

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