What to do with $2 trillion posted by Richard Seymour The latest Economist says US corporations are sitting on $2 trillion, the cash remaining uninvested due to a dearth of profitable investment opportunities. In the same article it points out that US government investment in infrastructure is among the lowest in the world, and reels off a litany of dysfunctions arising from this. The Economist, which is forever Saving Private Capitalism, suggests that this is a good time to bring in private money to make up for the lack of public investment. It calls, in short, for public-private partnerships. This is how neoliberal mystification works. It simply doesnt occur to The Economist to think that there might be a connection between the a surfeit of cash in private hands, and a shortfall in public investment. Or, to put it another way, between growth strategies predicated on low corporation taxes, and public sector funding shortfalls. leninology.co.uk/2014/06/what-to-do-with-2-trillion.html
Posted on: Fri, 04 Jul 2014 01:39:43 +0000
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