"The result is that the presence of taxes increases profits. The logic is that the payment of taxes forces wager to reduce their propensity to save out of income before taxes, even if the propensity to save out of income after taxes is unchanged."
😮 In brief, Graziani is saying that taxes don't affect corporate profits, but here taxes on us lumpen diminish our ability to invest in stocks say.
“Across the country, private companies are swooping in to buy local water and sewer systems from the governments that own them. Then they jack up the prices -- forcing normal people to pay higher rates not just for the water that comes out of their faucets, but even the water that comes out of their toilets.
Finance and Economic Breakdown: Modeling Minsky's "Financial Instability Hypothesis"
Minus the math, which can be skipped over, for his discussion, the paper lays out the basics of modern economics wrt to economic cycles and labor v capitalist v creditor (banks) income.
It’s the basic model to reason about our economy and its state.
Glen Canyon dam suffered damage river outlet works, pipes that release water damaged. Limiting release capacity. Increasing the challenge of water management