The Scourge of Corporate Financialization: Income Inequity, Employment Instability, Productive Fragility

[searcher]

The Scourge of Corporate Financialization: Income Inequity, Employment Instability, Productive Fragility

After decades of worsening inequality, the United States has an extreme concentration of income and wealth among its super-rich, while most American workers live paycheck to paycheck. A Brookings study, using 2012-2016 data, found that 44% of all US workers ages 18-64 earned low hourly wages. In the last half of the 2010s, the US labor movement focused on the “fight for $15”—which, at $31,200 annually, still represents low-paid work. Oxfam reports that, in 2022, with inflation eroding real wages, 32% of the US labor force had hourly wages of $15 or less.

Even in the tech sector, which provides large numbers of high-paid jobs, employment has become very unstable. There were almost 225,000 tech layoffs in the first seven months of 2023, adding to and far surpassing the 165,000 tech layoffs in all of 2022. Meanwhile, as documented in studies by the Academic-Industry Research Network for the Institute of New Economic Thinking, leading US companies are finding themselves vulnerable to more innovative global competitors in sectors such as aviation, communications, semiconductors, and alternative energy that are critical to US productivity growth and national security.

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The Scourge of Corporate Financialization: Income Inequity, Employment Instability, Productive Fragility

Stock buybacks as a mode of predatory value extraction

www.ineteconomics.org

 

[TheRealZed]

You really are a communist, aren't you?

The decades of worsening inequality, the United States has an extreme concentration of income and wealth among its super-rich, while most American workers live paycheck to paycheck.

Have been driven by Central Banking Policy, no more, no less, an epic example of centralised power fucking up everyone's life. When Greenspan was in charge I noted that this was the best way to destroy the middles class, the class that the lefties hate the most! Sure as shit here we are on the eve of their destruction and assholes are pointing at all the wrong things. They point at capital markets, blaming them while looking straight past the vestige of communism, the central bank, that is sitting at the core of the issue.

Anything with New and Economics in its title is propaganda by default.

 

[Casey Jones]

Financialization, is just the result of currency debasement and seigniorage - access to the newly-created fake fiat money.

This is HOW corporations can get rich completely DESTROYING the economy and society.

They're rich with FIAT - with fake money, which most of the global population still regards as representative of value.

Of course, this predates a currency collapse - which also universally occurs in such a situation.

The SOLUTION...is SOUND MONEY.

Once the blinders are off...it is so obvious, it's scarcely worth discussion. For corporations to get money, in a PM-based monetary system, they have to deliver VALUE. Not flatter tyrants and position themselves behind the Central Bank printing presses.

The OPPOSITE of what they are doing, is what they will have to do. Which, again, is why they are fighting so hard to repress gold...won't work, since the path we're on is almost to the end, which will bring their destruction...but crony-corporatists aren't bright or educated.

 

[searcher]

You really are a communist, aren't you?

No.