Financial Capitalists Cannibalize Their Manufacturing Base
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Capitalist News Interpreted /
04 Jun 2019
This article shows the reversal of investment in manufacturing compared to investment in finance over the last 60 years. In that time period, the rate of profit derived from manufacturing decreased from 27% to 11%. Meanwhile the finance, insurance and real estate profits jumped from 14% to 21%.
In terms of corporate profits within the same 60-year period, the percentage of corporate profit made on manufacturing dropped from 49% to 17%. Further evidence of the last stages of a hegemon, based on what happened to past hegemons among the Italians, Dutch and English.
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