Capital . Karl Marx 1867. Athens, February 12, 2012. Capitalism is a system of commodity production.
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Athens, February 12, 2012
esp. FIRE (Finance, Insurance, Real Estate)
financial leverage tends to override capital (equity) and financial markets tend to dominate over the traditional industrial economy
“Home of the Free, Land of the Poor,” Making Sen$e, PBS Newshour, 8/16/2011
Note: Moving far means moving at least two income fifths (e.g., from the bottom to the middle fifth, or from the top to the middle fifth). Data are missing for 1986–1996, 1988–1998, 1990–2000, 1992–2002, and 1994–2004.
Note: Bars show how much the chance of leaving the bottom income fifth changes if the head of household has the identified characteristic relative to not having it (e.g., being white relative to being nonwhite or having a high school education relative to not having it.
Low-, middle-, and high-income growth, 1973-2010Real income growth for different income percentiles diverged in 1970s, with real incomes flattening in 20th percentile and median, and increasing in 95th percentile
[“30 More Years of Hell?” C. Kilpatrick, Jacobin]
forces & relations of production