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What I have called in the past, the scissors of slump (rising interest rates and falling profits), are beginning to close. Why does tracking the change in the profits of the capitalist sector globally matter? As I have argued in numerous places, profits are the driving force of capitalist investment and therefore employment and income growth. If the profitability of capitalist investment falls and eventually leads to a fall in total profits, it is the strongest indicator of an impending slump in capitalist production. The close (if lagged) relationship between profits and investment is well established by several studies including my own.