Good news!
Adam Smith predicted everything! If we could only get ourselves a “Lost Decade” like Japan.
But the rate of profit does not, like rent and wages, rise with the prosperity and fall with the declension of the society. On the contrary, it is naturally low in rich, and high in poor countries, and it is always highest in the countries which are going fastest to ruin.
That and how I met Eliot Spitzer at a party! If you don’t click on another thing I ask you to click ever in your life click on this. Xmas spirit, etc. etc.
