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it isn’t full employment until profit margins are moderate.
@interfluidity I thought profits were way down? https://twitter.com/conlon_chris/status/1662136419521904652?t=rAC2F5pyMwLPg4U-83WiBw&s=19
TwitterChris Conlon on Twitter“Maybe you heard that "corporate profits are responsible for 60% of inflation".
Turns out if you re-did that analysis using current data you would get a very different number.
Corp profits have been in decline for three quarters while prices (and wages) continue to grow.”
@djc that’s making claims (i can’t evaluate now) about current price growth attributable to profits.
profit margins have been on a secular tear, then supercharged postpandemic. this measure would be about 8% to be historically moderate-ish. i think it’s still around double that (can’t track it down now, on the road).
