25 May 2019 — MROnline
by George Fish
Alan Nasser’s Overripe Economy is a profound historical look at the U.S. economy from the 1870s on that not only brings the lessons of its history and development up to the present, but offers deep insights into the economic bases for its “degeneration” from rapacious but productive capitalism to its present financialized capitalism replete with secular stagnation and reliance on debt, credit, and financial bubbles rather than production as such. Capitalist profit now comes not from production of “widgets” as Nasser calls them, but increasingly, from financial speculation and emoluments for the already very rich. The result for the working class is massive inequality and the fall from secure full-time employment generally into the current, seemingly permanent, workforce precariat.
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