Casino Capitalism and Profit Maximization (tags)
In the 1960s the average holding time for stocks was 10 years. Now the holding time is not 9 months but 22 seconds. Like shareholder value, profit maximization leads to exploding inequality and the waste of resources. States are weakened by tax cuts.
Casino Capitalism and Profit Maximization (tags)
“The state is consciously weakened to speed up the redistribution from bottom to top because that corresponds to the dogmas of the neoliberal ideology.” Our state was systematically weakened in the last 15 years by extensive tax cuts. I remember the lowering of the top income tax rate.