$29 Trillion World Corporate Debt – Global Capitalist Crisis Coming?
Looking for signs of what is really going on in the world capitalist economy is difficult when the units of analysis are nation-states. What matters more are those signals which impact the economy as a global whole. This brief article points to $29 trillion debt in corporations the world over. It also says that one-third of the companies cannot produce enough profit in investments to cover their cost of funding. What is amazing is that what would be an unacceptable and intolerable way to live for individuals is acceptable as a way of life for an economic system. Ignore the video. It’s the text below it that explains what’s going on.
About The Author
Bruce
Bruce Lerro has taught for 25 years as an adjunct college professor of psychology at Golden Gate University, Dominican University and Diablo Valley College. He has applied a Vygotskian socio-historical perspective to his four books: From Earth-Spirits to Sky-Gods: the Socio-ecological Origins of Monotheism, Individualism and Hyper-Abstract Reasoning Power in Eden: The Emergence of Gender Hierarchies in the Ancient World Co-Authored with Christopher Chase-Dunn Social Change: Globalization from the Stone Age to the Present and Lucifer's Labyrinth: Individualism, Hyper-Abstract Thinking and the Process of Becoming Civilized He is also a representational artist specializing in pen-and-ink drawings. Bruce is a libertarian communist and lives in Olympia WA.