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.
Map of Tagerschen Photo Gallery
Map of Tagerschen Holiday Map Q.