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GDP was still increasing in the late 90s in the US. The recession didn't start until March 2001.
by harryh 8y ago
GDP was still increasing in the late 90s in the US. The recession didn't start until March 2001.
- ethbro 8y agoThe interesting corollary would be that in the run-up to a recession, all other assets and opportunities are so over-valued that capital has nowhere else to go. And that increasing wages for labor is in fact capital's least-preferred option. Which would be sad, but more or less jive with how the modern global, publicly traded economy works.
- eli_gottlieb 8y agoWell, that sounds pretty accurate: today's economies are so thoroughly dominated by the interests of monopoly capital that it takes a long-running bubble/overheat to actually raise wages.
- harryh 8y agotoday's economies are so thoroughly dominated by the interests of monopoly capital How do you measure this?