[lbo-talk] Crunch time for US capitalism?

Charles Brown cbrown at michiganlegal.org
Sun Dec 5 14:56:29 PST 2004


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Duménil and Lévy also deconstruct the ways that US corporations responded to declining manufacturing-sector accumulation. Manufacturing revenues were responsible for roughly half of total (before-tax) corporate profits during the quarter-century post-war "Golden Age", but fell to below 20% by the early 2000s.

In contrast, profits in the financial sector rose from the 10-20% range during the 1950s-60s, to above 30% by 2000. Financiers doubled their asset base in relation to non-financial peers during the 1980s-90s.

^^^^^^^

CB: Sounds like super-profitting finance capitalism .

It's difficult to find "the working class" nowadays. There are workers, billions of them, all over the world, but where do you find this mythical working class?

^^^^^ CB: Sort of like "water, water everywhere, and not a drop to drink", "only trees, no forest".



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