Heads they win: A new measure shows the financial sector’s expanding share of the economy
A new measure shows the financial sector’s expanding share of the economy
So basically, we don’t produce as much as we did. All the profits from the companies seem to have been shunted into the banks where it accumulates wealth upon itself without actually generating any value for the actual economy or the society in which the profits are being realized.
In order to have growth in an economy, you need to do more than simply have earned net profit accumulate more profit upon itself. You’ve got to pay out that wealth to workers who will then go out and spend the money that they earn on goods and services, which will then create a feedback loop, provided that workers are continuously paid according to how much profit they produce through their labor. I’m for a minimum wage, but not a living minimum wage. I’m for profit sharing, such that the larger companies who employ most of the people in the economy and generate the most amount of profit have to kick chunks of that extra wealth down to their workers rather than simply allow things to accumulate at the top. Trickle down is absolute bunk empirically, I don’t know how it is that we still use that as a model (except for the fact that Liberal and Conservative elites have been co-opted into the Capitalist circles of wealth, power, and corruption.
You want to see real growth; the production of real well being? Try paying your workers more than sub-subsistence wages when they produce massive amounts of profit. Then, watch what happens.
Stupid, corrupt economists. Idiot corrupt politicians and policy-makers.
Think about it.