In 1985, IBM was America’s most valuable company, one of its most profitable, and among its largest employers, with a payroll of nearly 400,000.
Today, Nvidia is nearly 20 times as valuable and five times as profitable as IBM was back then, adjusted for inflation. Yet it employs roughly a 10th as many people.
That simple comparison says something profound about today’s economy: Its rewards are going disproportionately toward capital instead of labor. Profits have soared since the pandemic, and the market value attached to those profits even more. The result: Capital, which includes businesses, shareholders and superstar employees, is triumphant, while the average worker ekes out marginal gains.
The divergence between capital and labor helps explain the disconnect between a buoyant economy and pessimistic households. It will also play an outsize role in where the economy goes from here.
The brute financial force of all that wealth means market fluctuations, like last week’s, matter more for consumer spending. Meanwhile, artificial intelligence could funnel even more of economic output toward capital instead of labor. Last week may be a taste. Amid reports that layoffs are climbing and job openings plunging, especially for professionals exposed to AI, the Dow Jones Industrial Average closed above 50000 for the first time.
It began with factories
Gross domestic product measures all the value added in the economy. For example, the value added by a manufacturer is its sales minus inputs such as parts and raw materials. That value is then distributed either to labor as wages and benefits, or to capital as profits and interest. Some value added is also allocated to depreciation, the cost of replacing assets as they wear out or become obsolete.
Real market capitalization and number of employees for the largest companies on first trading day of select years
@Malinowski es el nuevo spammer de publico.es y elsaltodiario.es ???? Esto es legal ?
Esta asalariado con estos periodicos o de verdad solo publica estas cosas para ganar karma en MNM ?
#2 Si, pero ha traído, entre otras cosas, limpieza, de fachadas, descubriendo que había edificios de lo más interesantes, como viaria que era un desastre, mejora de muchos barrios.
¿Se podría haber hecho de otra forma? ¿se puede revitalizar una ciudad que fue industrial a ser turística sin pasar por el turismo? pues no lo se, probablemente, o no...
Me ha gustado mucho la entrevista, especialmente sus conclusiones en lo que se refiere a relaciones entre hombres y mujeres y que una de las claves fundamentales está en las condiciones materiales. Eso sí, creo que el titular está mal escogido, parece que habla de la utilización de las frustraciones masculinas como medio cuando el fondo no habla de eso.
Gracias @Malinowski
www.meneame.net/story/intocable-isla-kharg-corazon-exportaciones-petro