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Tuesday, January 28, 2020

Assetisation and the end times of neoliberalism — Richard Murphy


Capitalism is about capitalizing whatever can be capitalized into an asset on a balance sheet.
And it can be said that the creation of these 'assets' is now the focus of modern capitalism.
This then defines modern capitalism as a mechanism for rent extraction, and not profit-making.
And what that means is that value creation has ceased to be what markets are about.
No wonder we are in the end-times for neoliberalism.
Tax Research UK
Assetisation and the end times of neoliberalism
Richard Murphy | Professor of Practice in International Political Economy at City University, London; Director of Tax Research UK; non-executive director of Cambridge Econometrics, and a member of the Progressive Economy Forum

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