thrift in paying down debt. The shift from spending more than one earns to spending less than one earns (in the aggregate) causes a sustained drop in effective demand, and hence a general glut. Austrian Austrian economics do not see "general glut" as a meaningful way of describing an economy, indeed Austrian Economists do not believe it is possible to have too much of everything. In the Austrian analysis, it is the misallocation of resources that should be avoided. Producing too much of the wrong things, and not enough of the right things, is what Austrians believe to be truly wrong with an economy See also Deflation Depression (economics) Overproduction Underconsumption References External links "Population Malthus" P James Recessions