Abstract

Out on the Credit Limb
Tanzer, Michael | June 2, 1969 issue

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In recent years economists of all political persuasions have tended to depreciate the threat of cyclical instability in the U.S. economy. The basic danger to the U.S. economy is the one ever present in any capitalist economy-the possibility that monetary conditions will get out of line with physical production and consumption needs. Credit capitalism is really the highest and purest form of capitalism. For one thing, nothing tangible is produced, so that there are few labor problems. Second, credit capitalism has the potential to be automatically self-perpetuating, in that interest on the debt continually adds to the amount of debt outstanding.

See Also:

UNITED States -- Economic conditions; ECONOMIC structure; CAPITALISM; DEBT; ECONOMICS; ECONOMIC history; UNITED States
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