Wall Street Journal exposition of Marx’s Theory of Crises

Overcapacity Fuel Costs Hit Shipping – WSJ

This article parallels the analysis that I used in Railroading Economics to analyze the Great Depression of the late 19th century.  Overcapacity and new technology combine to force companies to invest in technologies that have even greater economies of scale with the effect that they swamp the market even more.

2 comments so far

  1. mark hansen on

    i have always enjoyed the line in the film “The Formula”1974.
    “When this is over there won’t be any countries anymore, just one big corporation and we’ll all be customers.”

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