Today, global financial assets (including just stocks and bonds) are worth over $250 trillion and amount to about 330 percent of global gross domestic product, up from $12 trillion and just 110 percent in 1980.No shortage of capital in the world now. Instead we have so much capital that people like the author of the above worry more about the effects of bubbles and asset price fluctuations than productivity or wages. Again I say: if capitalists can't find productive uses for all the money they control, governments should take some of it via higher taxes and spend in on things we could use.
Thursday, September 14, 2017
Today's Financial Sector Number