#132 Phil Armstrong: Greece, The Euro & Getting The Money Story Right
The MMT Podcast with Patricia Pino & Christian Reilly
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The Declining Rate of Profit
Besy marks is talking about this fundamental tendency of the rate of profit to decline. And what will happen is, eventually profit decline so much across the economy, lots of firms go bankrupt. Has have bieg crisis, heavy unemployment, real desperation on the part of ordinary people. So that's why, for marxus youd have this tendency of the declining rate of profit. This is something which is a tendency. It happens all the time. There might be offsets. But i think in his final phase, and i can't remember what it was called of the top of my head, but financial capitalism, money manager capitalism. You've got it. That's where this financial instability
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