From over-investment to Households' Over-Indebtedness

Jean-Luc Bailly
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Jean-Luc Bailly: Université du Borgogne

European Journal of Economic and Social Systems, 2010, vol. 23, issue 1, 63-80

Abstract: The macroeconomic foundations of the crisis are in what the amortization of fixed capital causes an over-investment that comes to burden the profitability of capital engaged in production. In this paper we argue that far from compensating for the effects of overinvestment, the pressure on wages and the expansion of consumer credit contribute to the start of the financial crisis. MOTS-CLÉS : amortissement, coût d'usage, financiarisation, surendettement, surinvestissement.

Keywords: Amortization; Excessive Debt; Financialization; Over-Investment; User Cost (search for similar items in EconPapers)
JEL-codes: B51 E22 E32 E44 G01 (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:ris:ejessy:0043

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