Underconsumption Thesis

Empirical research relied on face-to-face interviews, phone interviews, and postal surveys of 113 men - most of them abstainers or "light" drinkers.The main rationale was that likely violators of minimum drinking norms would be the most likely to have noticed and remembered the expression of minimum drinking norms.This thesis places particular emphasis on the years after 1914 so as to challenge the common notion that Hobson’s intellectual evolution was over by this point and it is found that he continued to betheoretically innovative, revising and refining his ideas up to his death in 1940.

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Furthermore, the case was presented that minimum drinking norms have potentially negative consequences for both individual "underdrinkers" and for societal levels of alcohol-related problems.

These findings have important implications for the public health community and it is suggested that reference to a developed theory of "under-consumption" may have potential benefits for the planning of public health strategies and for public health policy.

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The theory of imperialism is the best known part of Vladimir Lenin’s theoretical work — it is a part of any basic exposition of political economy.

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GDP = Consumption Investment Government Spending Net Exports They actually say that GDP growth is these four factors, but—and I am sure they know this—we have to be a little careful stating it this way because the four factors are interrelated in complex ways such that it could easily be the case that increasing one factor automatically causes another to decrease.

We would never want to imply that we can automatically boost GDP growth by revving up one or another of the four. Changes in the trade deficit and in GDP are indeed usually positively correlated, but this point is meaningful only if the only source of GDP growth is net exports, something that no one has ever suggested.


Comments Underconsumption Thesis

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  • Underconsumption" of Alcohol as a Form of Deviance.

    The thesis is also concerned to describe the key processes through which minimum drinking norms are produced and reproduced in social occasions' to demonstrate the public health significance of minimum drinking norms, and to provide evidence for the reality of "underconsumption" as a form of deviance in New Zealand society. Empirical research relied on face-to-face interviews, phone interviews.…

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    Abstract = "This thesis is a study of the economic, social, and political thought of John Atkinson Hobson. It traces the evolution of his theories from his early engagement with the economic concept of underconsumption through to his development of a system of humanistic economics.…

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  • James Mill On the Overproduction and Underconsumption.

    ON THE OVERPRODUCTION AND UNDERCONSUMPTION FALLACIES * See Mr. S’s pamphlet, from p. 29 to 37. ** Mr. Spence here furnishes us with an unanswerable argument against his doctrine of durable commodities. He insists upon it, as we have already seen, that all commerce is unprofitable, which does not import durable commodities. But commodities the more they are durable, are the more…

  • Lenin on Imperialism and the Accumulation of Capital.

    A similar evaluation of Hobson’s book in reference to the relationship between the theory of imperialism and the thesis of underconsumption is given by M. H. Dobb, in Political Economy and Capitalism, London 1946, p. 266.…

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    A standard objection to the consideration of the underconsumption thesis or the consideration of problems related to the lack of effective demand is that long-run growth – the trend rate of growth, also called the potential growth or the natural rate of growth – is ultimately…

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