What’s good for corporations is not always good for the country, its people, or the capitalist system we allegedly defend; it’s time we make the distinctions. A little more than two years after the 2008 financial crisis, corporate profits were hitting record highs and our gross domestic product was growing again.
Today, our nation’s fiscal health depends more on increased consumption than on the production of goods and services. But average real wages for most workers have stagnated or fallen over the last thirty-five years, and good jobs are disappearing. Just look at the Commerce Department’s latest GDP report, which shows corporate profits have hit their highest percentage of GDP on record at the same time as total wages have fallen to a record low. Without employment or income, what’s the key to our economic recovery?
, catherine crier
Tags: commerce department
, crony capitalism
, financial crisis. capitalism
, gdp report
Our public dollars are well spent creating platforms on which private enterprise can prosper. With interest rates at nearly zero, low labor costs, and the construction industry with all its suppliers scrambling for work, we should be pouring stimulus dollars into our schools, roads, and bridges. We should be building a new energy grid and sending wireless technology into every corner of the land. These are the measures that will produce big returns for all Americans.
With the economy recovering slowly and our nation’s roads and bridges crumbling, a new study from the San Francisco Federal Reserve found that making investments into infrastructure has substantial short- and medium-term benefits for the economy. Read their findings here or look below for a quick recap of the study and share your thoughts.
From Business Insider
STUDY: Every $1 Of Infrastructure Spending Boosts The Economy By $2