That’s what I got from this long, must-read article by Simon Johnson. It freaks me out to hear former IMF chief economists sounding like radicals. (Via Apo.)
That’s what I got from this long, must-read article by Simon Johnson. It freaks me out to hear former IMF chief economists sounding like radicals. (Via Apo.)
“From 1973 to 1985, the financial sector never earned more than 16 percent of domestic corporate profits. In 1986, that figure reached 19 percent. In the 1990s, it oscillated between 21 percent and 30 percent, higher than it had ever been in the postwar period. This decade, it reached 41 percent.”
this is terrifying.
bankers “earn” (or take) almost half of domestic corporate profits?
russia indeed.