https://www.jstor.org/stable/23601991
It feels like a specific form of the "decomposition" phenomenon laid down by Lenin in 1916, right? An inevitable development of imperialist economies
Basically that's what it comes down to. Corporations prioritize maximizing shareholder value over growth, often engaging in financial engineering activities like stock buybacks instead of productive work. Additionally, financiers aim for maximum profits with minimal risks, which leads them to invest more in intangible ventures such as tech startups. This creates selection pressures that push industries away from the imperial core.
lol yeah, basically any actual economist as opposed to a neoliberal propagandist understands this
Indeed!
He's even making references to Rome lol. Hudson just wrote a book about Rome and debt.
I guess the cool economists like to compare the US Empire to the fall of the Roman Empire.
Well greece and rome are considered the cradle of western civilization, they ultimately will suffer the same end.
While we should be careful making historical comparisons like that, there are many parallels. I find I like to look at this in terms of selection pressures. Once you see what factors are driving behavior it becomes clear where things are headed.
