03/08/17

The Coming Financial Disruption



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The Coming Financial Disruption
// Zero Hedge

By Chris at www.CapitalistExploits.at

From the late 1700's through the 1800's the first industrial revolution brought immense benefits to the average Jack. Mass production of textiles, transportation, food, and beer meant that it was no longer just Lords and Ladies that could afford to get hammered.

Indeed, Jack and Jill too could fall down the hill after getting plastered without breaking the bank.

Those with capital owned the means of production. Stuff like mines, railroads, steel factories, and so forth as well as workers were paid to work the machines.

It was the machines which were valuable. And since they were immensely costly the power largely lay with the Lords and Ladies who had the capital available to purchase the machines.

Jack and Jill's contribution, relative to the cost of the infrastructure such as mines, etc. was relatively small. The value assigned to the contributing parts looked something like this:

Very rough non-statistical representation for illustrative purposes. Dear quants, don't get your knickers in a ...

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