The problems of late stage capitalism can be attributed in roughly equal portions to ZIRP, cronyism and unfettered globalization. None of the above are endemic

The problems of late stage capitalism can be attributed in roughly equal portions to ZIRP, cronyism and unfettered globalization. None of the above are endemic to capitalism. e.g. I saw a brand name 55" TV in Best Buy for $279. That's roughly two day's wages at the new proposed $15/hr minimum wage. Something is deeply busted here. Tariffs are not gonna make dent in consumer demand for a product that is already way too cheap. ZIRP, it's been shown greatly benefits the 0.1% and has marginal benefits for others. This is basically was Piketty has been decrying, but he seems to miss the dependence on the level of interest rates to the outsized return on capital over the last 40 years. Cronyism basically explains why Obama put no bankers in jail and AIG was bailed out so they could pay off their end of the world puts to Goldman. And now Trump has his own cronies. However, it's hard to easily prove cronyism has been increasing over the long term, pretty easy to prove over the short term.