United stagnation - united stagnation


The way in which productive and unproductive capitals interact has changed substantially throughout the postwar period in the United States. The accumulation pattern observed during the 1947-1979 phase, which prioritized productive accumulation, gave way after the 1980s to a contrasting pattern prioritizing unproductive accumulation. Unproductive activity has been growing significantly in terms of incomes, fixed assets, and employment. Among all forms of unproductive activity, finance and the creation of knowledge and information have constituted a rising share of total unproductive income and capital stock. Furthermore, productive stagnation and unproductive accumulation have been closely related to greater exploitation of productive workers and to overall income inequality.


United Stagnation - United StagnationUnited Stagnation - United StagnationUnited Stagnation - United StagnationUnited Stagnation - United Stagnation

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