The History of Underconsumption Overinvestment Overcapacity

The idea of underconsumption overinvestment overcapacity, this has a very long history in economics. In the pre-World War I period you have people like Hobson who is not a Marxist Lenin talking about competition for colonies and markets. There's another tradition that I think is less well known but it's sort of an interesting alternative way of ending up at a similar place which is from the first generation of American economics profession.