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(I'll have to give this article careful attention but it would seem to me that investment is being neglected because there is no demand. Why invest in new steel mills when there is not an expanding market in the manufactured goods that are based on the output of basic industry like steel, rubber, petrochemicals, etc.?)
This blog continually hammers home the view that it is investment not consumption that is the key to economic growth. Fluctuations in business investment in a predominantly business, profit-making economy decide, in the first analysis, whether output expands or contracts; whether there is a boom or slump. This view is contrary to that of Keynesian economics, which although it appears to recognise that investment plays an important role, sees investment and consumption spending (domestic demand) as driving employment, output and incomes and profit – in that order – not vice versa.
full: https://thenextrecession.wordpress.com/2016/02/19/investment-investment-investment/
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