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From over-investment to Households' Over-Indebtedness


  • Bailly, Jean-Luc

    (Université du Borgogne)


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.

Suggested Citation

  • Bailly, Jean-Luc, 2010. "From over-investment to Households' Over-Indebtedness," European Journal of Economic and Social Systems, Lavoisier, vol. 23(1), pages 63-80.
  • Handle: RePEc:ris:ejessy:0043

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    More about this item


    Amortization; Excessive Debt; Financialization; Over-Investment; User Cost;

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • G01 - Financial Economics - - General - - - Financial Crises


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