----- Original Message ----- From: "SA" <s11131978 at gmail.com>
What annoys me isn't that I think they're wrong. Who knows, maybe it's me who's wrong - and besides it's not in itself a topic worth getting worked up about. What annoys me is that it keeps getting repeated despite a lack of evidence and an abundance of counter-evidence. It's as if evidence doesn't matter - if it feels good, say it.
-- Well, it's canonical right? I remember reading something in Capital about how during the late stage of capital development, investment goes from manufacturing to finance because while profits in manufacturing have limits set by consumption rates, availability of labor and resources....the limits of financial profit are theoretically infinite.
But perhaps what's missing from this picture is the fact that while Capital is in one stage in one country (USA), it's in a different stage in a different country (India, China, Brazil)...so that productive/manufacturing capital always lies behind the epiphenomena of finance.
Not an expert. Just sayin...
Joanna