But the opposite of the excessive consumption model excessive reliance on investment to generate aggregate demand is also a self limiting growth pattern. When the private and social returns of investment diminish too much, growth cannot be sustained indefinitely, even though rising investment rates can sustain aggregate demand for a while.

Accumulating excessive debt usually entails moving some part of domestic aggregate demand forward in time, so the exit from that debt must include more savings and diminished demand. The negative shock adversely impacts the non tradable sector, which is large (roughly two thirds of an advanced economy) and wholly dependent on domestic demand.

To be sure, one can reasonably argue that austerity in the eurozone has been excessive, and that fiscal deficits should have been much larger to sustain demand. But only governments with access to market finance can use expansionary fiscal policy to boost demand.

I think it's excessive Internet use in general, excessive video gaming, excessive new access to pornography.

Excessive lead times

Is it not the case that the problem in the US has been too little savings, rather than too much? Doesn t the country s persistent current account deficit reflect excessive consumption, rather than weak effective demand?

The first key factor is deleveraging and the resulting shortfall in aggregate demand. Since the financial crisis began in 2008, several developed countries, having sustained demand with excessive leverage and consumption, have had to repair both private and public balance sheets, which takes time and has left them impaired in terms of growth and employment.

Indeed, for ten years, north to south income transfers and lending financed excessive aggregate demand, making the eurozone seem stable. As markets underpriced risk in order to lend to increasingly indebted countries, pressure on interest rates diminished.

Inflicting excessive austerity on the southern European countries while limiting their exports by restricting effective demand in the north is like administering an overdose to a patient while withholding oxygen. The political and economic success of southern Europe s much needed structural reforms requires the proper dose and timing of budgetary medicine and buoyant demand in the north.

Excessive indulgence spoiled the child.

But it's also, of course, to do with the massive crisis that followed excessive leverage, excessive borrowing in the private sector.

Reclining in the (Garden) on raised thrones, they will see there neither the sun's (excessive heat) nor (the moon's) excessive cold.

Reclining in the (Garden) on raised thrones, they will see there neither the sun's (excessive heat) nor (the moon's) excessive cold.

The impact of slowing global trade is most apparent for Germany, which was not burdened with excessive household or corporate debt, and enjoyed a favorable fiscal position. To escape the crisis, Germany used rapid export growth especially to meet voracious Chinese demand.

The government's expenditures are a bit excessive.

Marked by your Lord for the excessive.

Marked by your Lord for the excessive.

Prospects for these two sources of growth will not only influence the vigor, or lack thereof, of any recovery they could well be decisive in bringing about an important shift in the US growth model. The 70 30 split underscores the challenge the US must face up to a fundamental rebalancing weaning itself from excessive reliance on internal demand and drawing greater support from external demand.

Excessive choice results in the inability to choose.

Ruin is for every great slanderer, excessive sinner.

Ruin is for every great slanderer, excessive sinner.

O Children of Adam! Dress properly at every place of worship, and eat and drink, but do not be excessive. He does not love the excessive.

O Children of Adam! Dress properly at every place of worship, and eat and drink, but do not be excessive. He does not love the excessive.

Excessive drinking is one of the causes of impotence.

At the close of the Cold War, Central and Eastern Europe s economies were burdened by pervasive state ownership and concentrated investments in heavy industry. Fiscal and monetary policies had focused on boosting industrial growth, without regard to macroeconomic balance, resulting in chronically excessive demand and widespread shortages.

Germany s fiscally conservative establishment would like other EU countries with large budget deficits to return to economic health through fiscal discipline, reduced domestic demand, and high export growth. The problem, German leaders believe, is not their country s high saving rate, but other euro zone members excessive spending.

Nor ever listen to any excessive oath maker, ignoble person.

Nor ever listen to any excessive oath maker, ignoble person.

and why do you have an excessive love of riches?

and why do you have an excessive love of riches?

Of course, none of these outcomes is preordained. Politicians on both sides of the Atlantic have the ability to lower the risk of instability by implementing structural reforms, ensuring more balanced aggregate demand, removing pockets of excessive indebtedness, and smoothing out the mechanisms of multilateral and regional governance.

Energy demand

Demand reduction

Demand reduction

Demand reduction

Around the world, an estimated 171 million children from 5 to 17 years of age work, subject to hazardous conditions, excessive workloads, work intensity and excessive hours of work.

America s economy had been supercharged by excessive leveraging now comes the painful process of deleveraging. Excessive leveraging, combined with bad lending and risky derivatives, has caused credit markets to freeze.

Children of Adam, dress well when attending the mosques, eat and drink but do not be excessive for God does not love those who are excessive (in what they do).

Children of Adam, dress well when attending the mosques, eat and drink but do not be excessive for God does not love those who are excessive (in what they do).

(b) The excessive number of children deprived of their family environment.

As they prepare for the coming Chinese slowdown and seek to minimize the risk of regional destabilization, Asian economies must strengthen domestic demand and reduce excessive reliance on exports to China. In other words, sustainable growth requires all of Asia s China dependent economies to rebalance their two main growth engines.

Reclining therein on raised thrones, they will see there neither the excessive heat of the sun, nor the excessive bitter cold, (as in Paradise there is no sun and no moon).

Reclining therein on raised thrones, they will see there neither the excessive heat of the sun, nor the excessive bitter cold, (as in Paradise there is no sun and no moon).

Demand or Supply?

Netanyahu s Useless Demand