underconsumptiontheory, for instance, claims that an inordinate amount of income goes to the wealthy rather than to investment, thus producing instability.
See R. J. Gordon, ed., The American Business Cycle (1986) and W. C. Mitchell, Business Cycles and Their Causes (1989) A. W. Mullineux, Business Cycles and Financial Crises (1990).
The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2012, Columbia University Press. All rights reserved.
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