John Hobson Today

Paper Summary:

John Hobson's economic theories are applied to today's world in this paper. The paper examines his theories of the accumulation and distribution of wealth (capital) and investment risks in developing countries.

From the Paper:

"John Hobson's accumulation theory posited that massive wealth derived from industrialization could not be absorbed in late nineteenth century and early twentieth century developed economies because of the relatively low proportion of national income that was distributed to the great preponderance of the populations of those countries. The resulting accumulation of wealth capital in a relatively few hands led to a phenomenon of over-saving among the holders of the wealth because attractive investment opportunities no longer existed in the countries where the wealth was generated ..."

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