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Banks As Socialist Collectives - Bloomberg - Matt Levine
If a company pays workers a medium (or, sure, large) amount of money in mediocre years, and vastly more money in great years, then that is I think a decent sign that it is run partially for the benefit of the workers—that the workers think of themselves as residual claimants on the firm, entitled to help themselves out of the profits in good years. (Of course in bad years the employees still get paid—still get bonuses, even—so it is not a perfect measure.) A Residual Marx Ratio that tracks, say,...
capitalism  socialism  marx  banks  finance  economics  labor 
28 days ago by max_read
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