Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/270869 
Authors: 
Year of Publication: 
2023
Publisher: 
Economics from the Top Down, Toronto
Abstract: 
In my last post, I discussed the underwhelming relation between interest rates and unemployment. In this post, I’ll look at a better way to connect unemployment to interest income. It turns out that if you take US net interest and divide it by corporate profit, you get a ratio that closely tracks unemployment. It’s a measure that Jonathan Nitzan and Shimshon Bichler call the ‘maturity of capitalism’. If this language sounds odd, that’s because Nitzan and Bichler see capitalism differently than your average economists. So before we get to the data, let’s review some of their thinking.
Subjects: 
income distribution
interest rate
maturity of capitalism
profit
sabotage
unemployment
JEL: 
P00
P1
E24
J6
D3
E4
Creative Commons License: 
cc-by Logo
Document Type: 
Working Paper

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