June 2, 2012
THERE ARE TWO KINDS OF PEOPLE IN THE WORLD...:
America's jobs crisis (Felix Salmon JUNE 1, 2012, Reuters)
Corporate profits now account for significantly more than 10% of GDP: that's never happened before.To spell this out: high corporate profits and low levels of job growth are two sides of the same coin. If things were working properly right now, companies would take their excess revenues and use them to hire more people. Instead, they're basically just letting those excess revenues sit on their balance sheets as cash because they're scared to invest in themselves. It's frankly pathetic.
...those who think the point of a business venture is to make money and those who believe it is to make jobs. Right now, the latter are pleading for us to find a way to make business less productive and efficient in order to achieve their goal.
Posted by Orrin Judd at June 2, 2012 7:50 AM
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