CBO expects federal debt to double over next 30 years

[Einzige]

(03-10-2021, 10:33 AM)David Horn Wrote:

(03-08-2021, 03:11 PM)Einzige Wrote: The aggregate economy - the total capitalist world economy - is far less profitable today than in the 1900s.

Based on what?  Profits today are often hidden, but even the share totally in the open is astronomical.  Look at a company like Apple that is valued at over $1Trillion, yet manages to create this with a workforce of roughly 13,000.  No Gilded Age 1.0 megalith even comes close.

Michael Roberts has calculated the U.S. rate of profit since the War and found it to be in a pretty steady decline since the late 90s after peaking in 1963. Even if aggregate profit in raw dollars rises astronomically for the publicly visible  monopolist corporations the total profitability of the system as a whole is in massive decline.



Esteban Maito's work agrees with this, analyzing global profitability throughout the world. His work suggests a radical drop in profitability in the total world system as an aggregate since the 1800s, a profound global profitability crisis punctuated by apparent gains






A lot of what is published about profitability is just propaganda to make the capitalist system look healthier than it is.