[lbo-talk] capitalism out of ideas?

[Doug Henwood]

Sorta smells that way, deosn't it? It's odd, though, that profit 
rates now are high, but expectation for profits on new investments 
are evidently low. There's also an element of Keynesian risk aversion 
here.

Doug

joanna bujes wrote:


>Typical crisis of accumulation/over-production, no?
>
>Joanna
>
>Doug Henwood wrote:
>
>>WSJ.com - October 22, 2004
>>
>>THE MACRO INVESTOR
>>By STEVE LIESMAN
>>
>>Corporate Cash Hordes
>>Might Mean Capitalism
>>Is Fresh Out of Ideas
>>
>>Is capitalism running out of ideas?
>>
>>That's the question posed by Patrick Artus, chief economist and 
>>head of research at the French investment bank CDC IXIS Capital 
>>Markets.
>>
>>Mr. Artus observes something this column has mentioned often: the 
>>huge amount of cash on the books of U.S. corporations and the low 
>>investment levels relative to profits. But he takes it a step 
>>forward, finding it to be a true in Germany, Japan and, recently, 
>>in France.
>>
>>"
>
>
>
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