this post was submitted on 12 Sep 2023
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profits are high as ever, but wages and quality are just as low
No they aren't, profits have been continuously falling since WW2. They are as low as ever.
really? companies have been pulling in trillions in profits
falling rate of profit doesn't mean there was a loss. Just less profit (by percent, ROI) than previous years
https://thenextrecession.wordpress.com/2022/12/18/the-us-rate-of-profit-in-2021/
https://thenextrecession.files.wordpress.com/2022/12/usrop1.png
You need to take into account inflation, how much was invested vs. how much profit was made & various industries across different sectors. The overall trend has been less and less profit over time, which means companies have to be more and more exploitative or delivery a shittier product over time to keep getting the same returns they have been used to. Eventually it will reach the point of no profit, which is the end-point of capitalism in which it will start another world war or implode to reset.