Michael Perelman wrote: > > If there is a global savings glut, why does capital get such a big > > share of the pie? > > If finance is so abundant, why is there not great competition for > > labor, bidding up > > wages?
Doug Henwood wrote > If there is a savings glut, it's relative to investment, not labor. > Labor is even more abundant than capital. To reinforce Doug's point, if there's a savings glut of this sort, it would depress interest rates and/or national income. A savings glut wouldn't depress the rate of profit or raise wages. -- Jim Devine / "The truth is at once less sinister and more dangerous." -- Naomi Klein.
