i saw a paul cockshott video the other day suggesting part of it is the bourgeoisie increasingly spending profits on luxuries rather than reinvesting in productive capital (which itself is possibly even because the rate of profit on productive capital is/was so low)
he didnt really explain this in any detail or how it could be such a substantial factor to move the needle so much on the entire system, i would be interested to hear more on this
What lead to an increase in rate of profit in the 90s? Fall of the eastern block?
Globalization and outsourcing, likely.
i saw a paul cockshott video the other day suggesting part of it is the bourgeoisie increasingly spending profits on luxuries rather than reinvesting in productive capital (which itself is possibly even because the rate of profit on productive capital is/was so low)
he didnt really explain this in any detail or how it could be such a substantial factor to move the needle so much on the entire system, i would be interested to hear more on this