After years of decline, economic profits rebounded with a vengeance—driven by tech companies, performance in the energy and materials sector, and capital growth in China and North America.
To be clear, this seems like nonsense to me, in a systematic sense. Most of that profit seems to be off the back of shrinkflation, enshittification, and AI hype, all of which is rent-seeking, and none of which is based on any meaningful material increase in real underlying value…
Do these people ever think about the connection between finance and economics and real, underlying value?
McKinsey: Global economic profit bounces back to an all-time high
Submitted 4 weeks ago by cm0002@lemmy.world to economics@lemmy.world
pdxfed@lemmy.world 4 weeks ago
They make slide decks and persuade people who want to believe consultants can help and/or aren’t smart enough to see through the facade. The profit and business memecycles and bubbles are quick; by the time it’s flopped the consultants have not only long since moved on from accountability but also probably had 5 catchphrase meme pitch cycles since.