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this post was submitted on 26 Apr 2026
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traingang
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Is anyone familiar with the Melinda Cooper argument that there was a concerted shift in the US / Canada from capitalist distribution of surplus via wages to assets? Obviously in the long run this alone would cause a great stagnation of economic growth, which is what we've been seeing for decades now as real production stalls and asset inflation skyrockets.
I haven't had a chance to read her book(s) yet, but prima facie it seems a compelling argument.
Piketty said the same thing in Capital of the Twenty First Century, arguing when the rate of return on assets is larger than the rate of growth (R > G), stagnation follows. The financial sector was in shambles when he published that book.