under-consumptionn.
/ˌʌndəkənˈsʌm(p)ʃn/, U.S. /ˌəndərkənˈsəmpʃən/ Economics.
Insufficient consumption; a demand for goods and services exceeded by supply or insufficient to call forth the full potential supply. Cf. overproduction n.
ΘΚΠ
society > trade and finance > management of money > management of national resources > [noun] > political economy > states or trends of the economy
inflation1821
economic cycle1832
recovery1843
downdraught1852
perfect competition1853
downturn1858
softness1872
slump1888
downtrend1890
sag1891
under-consumption1895
recession1905
downdrift1906
economic recession1908
air pocket1913
stickiness1913
trough1916
deflation1920
downswing1922
slowdown1922
scissors1924
scissors crisis1925
uptrend1926
reflation1932
depresh1933
upswing1934
stagnation1938
countercycle1944
fiscal cliff1957
turn-down1957
stagflation1965
soft landing1973
slumpflation1974
downer1976
1895 Westm. Gaz. 8 Aug. 2/1 What the world is suffering from is under-production of everything and under~consumption.
1906 J. A. Hobson Evol. Mod. Capitalism xi. 288 When the disease is at its worst, the activity of producer and consumer at its lowest, we have the functional condition of under-production due to the pressure of a quantity of over-supply, and we have a corresponding state of under-consumption.
1931 Times Lit. Suppl. 14 May 374/3 They are thus on the way, not only to disentangling the mesh of popular theory connected with the words ‘over-production’ and ‘under~consumption’ but to destroying the presupposition..that..over-production..may..occur.
1961 Economist 22 Apr. 348/1 ‘Under-consumption’ at the bottom of the social scale was apparent to a slight extent in dental and ophthalmic care.
1974 B. Pearce tr. S. Amin Accumulation on World Scale I. i. 112 After a certain level of development has been reached, possibilities of saving become greater than investment needs (governed by the volume of consumption). We have here a general theory of underconsumption.
Derivatives
underconˈsumptionist n. an advocate of a theory of underconsumption; also attributive or as adj.
ΘΚΠ
society > trade and finance > management of money > management of national resources > [adjective] > of or relating to specific theories or doctrines
physiocratical1789
Smithian1801
physiocratic1804
protective1822
Ricardian1824
cameralistic1831
Marshallian1894
monetarist1914
Paretian1916
neoclassical1926
marginalist1929
Keynesian1931
underconsumptionist1936
pre-Keynesian1939
Walrasian1942
trickle-down1944
neo-Keynesian1947
Schumpeterian1950
structuralist1962
monetaristic1972
market fundamentalist1997
society > trade and finance > management of money > management of national resources > [noun] > political economy > states or trends of the economy > forecasters or advocates of
anti-inflationist1869
inflationist1876
reflationist1932
underconsumptionist1936
stagnationist1958
1936 A. L. Rowse Mr. Keynes 41 In sympathy..with the attitude of the under-consumptionists all along.
1948 G. Crowther Outl. Money (ed. 2) v. 149 ‘Under-consumptionist’ theories.
1974 M. B. Brown Econ. of Imperialism ix. 216 Some neo-Marxists..have accepted an underconsumptionist interpretation of Marx and therefore see the increase of surplus value and the search for its disposal as the main source of the continuing expansionism.
This entry has not yet been fully updated (first published 1986; most recently modified version published online March 2022).
<
n.1895