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Too much stuff about capitalist solutions to a crisis of overproduction
Kozo Yamamura's book ignores the fundamental reasons why economic growth in the developed world is in decline, says DAN GLAZEBROOK
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Too Much Stuff: Capitalism in Crisis
by Kozo Yamamura
(Policy Press, £7.99)
KOZO YAMAMURA’S starting point in this short book is the parallel existence of two seemingly contradictory realities of modern economic life in the developed world.
Low growth rates since 1980 evidence what he calls the “sickness” of these economies, especially since the “great recession” of 2008. This low growth, he argues, has created stagnant wages, frequent recessions which drive up unemployment, a reduction in the capital available for socially necessary investment and a growing inequality which is threatening political stability and even democracy itself.
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