On Wed, Nov 13, 2024 at 11:15 AM, hari kumar wrote: > > my temporal marker of the more 'modern era' (it has been superseded now of > course) start of the financialisation
What is typically called financialization took off from 1980 in the U.S., as noted. The long-term decline in the living standards of the U.S. working class dates from 1973. Real median weekly earnings peaked then, declined, and have not recovered. The relative mass prosperity achieved in several periods before then will never happen again. (This conclusion is argued from the evidence and the laws of capital accumulation in The Hollow Colossus ( http://www.hollowcolossus.com ).) Financialization is often given causal "blame" for our plight. But what began from the 1980s cannot explain what began from 1973. -=-=-=-=-=-=-=-=-=-=-=- Groups.io Links: You receive all messages sent to this group. View/Reply Online (#33567): https://groups.io/g/marxmail/message/33567 Mute This Topic: https://groups.io/mt/109543856/21656 -=-=- POSTING RULES & NOTES #1 YOU MUST clip all extraneous text when replying to a message. #2 This mail-list, like most, is publicly & permanently archived. #3 Subscribe and post under an alias if #2 is a concern. #4 Do not exceed five posts a day. -=-=- Group Owner: [email protected] Unsubscribe: https://groups.io/g/marxmail/leave/13617172/21656/1316126222/xyzzy [[email protected]] -=-=-=-=-=-=-=-=-=-=-=-
