Discover and read the best of Twitter Threads about #rationalization
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#Science/#Society/#Academia:
“The process of #rationalization central to #capitalism has required the creation of an intermediate stratum comprising the specialists of this rationalization, as #administrators, #technicians, #scientists, #educators. The very complexity of not...
“The process of #rationalization central to #capitalism has required the creation of an intermediate stratum comprising the specialists of this rationalization, as #administrators, #technicians, #scientists, #educators. The very complexity of not...
... only the #technology but the social system has made it essential that this stratum be large and, over time, expanding.The funds that have been used to support it have been drawn from the global surplus, as extracted through entrepreneurs and states. In this elementary but ...
... fundamental sense these #cadres have therefore been part of the #bourgeoisie whose claim to participation in the sharing-out of the surplus has been given precise ideological form in the twentieth-century concept of #HumanCapital. Having relatively little real capital to ...
Recently, Dr. Shiller suggested that #valuations really aren't that high once you fall in the #Fed trap of using #earnings #yields and #low #rates to justify it. The problem is it is a #rationalization to justify overpaying for #assets.
realinvestmentadvice.com/shiller-ecy-ju…
realinvestmentadvice.com/shiller-ecy-ju…
The main problem in using low-interest rates as a rationalization to overpay for assets is that you have to also discount #future #cashflows for lower inflation and rates as well.
realinvestmentadvice.com/shiller-ecy-ju…
realinvestmentadvice.com/shiller-ecy-ju…
"As low-interest rates went lower, the dynamic changed from using debt productively to using debt for non-productive purposes such as dividend issuance, share buybacks, and, in some cases, offsetting negative cash flows."
realinvestmentadvice.com/shiller-ecy-ju…
realinvestmentadvice.com/shiller-ecy-ju…
