Chris Brightman: The Profits Bubble

Chris Brightman's The Profits Bubble at Research Affiliates might be worth a read:

Profits are dangerously elevated by all reasonable measures... The dramatic rise in income inequality is a direct consequence of this spectacular reallocation of income to capital and away from labor.

For nearly a quarter century, we have experienced profits growing at a faster clip than GDP... Capital’s share cannot rise in perpetuity; social and political forces, if not economic developments, will cause it—sooner or later— to revert to a more usual level.

Brightman presents some eye-catching facts (without links to sources, sadly) and a lot of quotable lines. Most remarkably, he writes:

This period of globalization and the inflation of our profits bubble has been facilitated in part by a corporate capture of government policy, inhibiting competition, depressing investment, and promoting rent seeking. Rent seeking may be more extreme within our very own financial industry than in any other.

Brightman sees where the problem lies, and is forthright about it. This is something to be treasured, cultivated, and shared.