Seventies a Decade of Unconventional Rise in Profits
"Unorthodox Financialization" the cause behind unconventional rise in the profits
After the seventies the unorthodox financialization by the financial institutions led to unconventional rise in the profits made by the corporate sectors and the banks. Until 2007 it had sky rocketed to 40 percent.
READ MORE: Why Do We See What We See?
Till seventies the banks contributed mainly to the genuine small consumers and it helped them a great deal. America in the seventies was the world’s greatest producing center. There were no crashes till the seventies. The banks had a major shift which saw the banks going burst over the last few decades continually.
Noam Chomsky is of the view that concentration of wealth and power has been in the hands of very few designed to regulate the affairs of the financial world.
America saw the best of the democratization during the sixties. The will of the people being translated but with a pinch of salt. At times more democratization will entail more problems. Hence it is curtailed.
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