Finance capital and the World Economy — Prabhat Patnaik

Summary:
THE period of neo-liberalism [corporate capture of the government] witnesses an increase in the share of economic surplus in total output [aggregate economic rent inherent in commodity production in monetary production economies] both in individual countries and also for the world as a whole. This is because the “opening” up of the economy to freer trade in goods and services leads to a rapid introduction of structural-cum-technological change, which, because of its labour-displacing character, keeps down the growth rate of employment, to even below the natural growth-rate of the work-force. The resulting increase in the relative size of the reserve army of labor [surplus workforce] restrains the level of real wages everywhere, even as labour productivity grows massively [through scaling

Topics:
Mike Norman considers the following as important:

This could be interesting, too:

Lars Pålsson Syll writes Klas Eklunds ‘Vår ekonomi’ — lärobok med stora brister

New Economics Foundation writes We need more than a tax on the super rich to deliver climate and economic justice

Robert Vienneau writes Profits Not Explained By Merit, Increased Risk, Increased Ability To Compete, Etc.

Lars Pålsson Syll writes Ekonomisk politik och finanspolitiska ramverk