this post was submitted on 25 Feb 2025
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Late Stage Capitalism
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In a healthy economy profits are used to expand businesses improve capital and for R&D.
Yeah we're in a phase with robber barons right now where that isn't always the case. I always wonder, was the last time there were robber barons also late stage capitalism? Was the Great Depression late stage capitalism? Have we been in late stage capitalism for over a century now?
Your first sentence suggests you only have a loose understanding as profit is revenue beyond all expenses including wages, rd, and reinvestment.
It's a pedantic but important difference as businesses regularly take on debt required to generate capital. Profit is also taxable while rd and infrastructure is usually deductible.