Yave nguva kubva pandakatarisa chimwe chezvikonzero zvikuru zvekupararira kwekuora kweUnited States: iyo yakaderera mwero wekudyara - mari muzvinhu chaizvo, ndiko kuti, kwete crypto. Kunenge kuri kufambirana nemasimba ekuora. Kana iwe uchinetseka kuti nei pasina chinoshanda uye zvese zvinoita kunge zviri kuparara, heano mamwe matsananguro.
Chekutanga tsananguro: kudyara kuri kushandiswa nemabhizinesi, hurumende, uye vanhu pachedu pazvinhu zvekugara kwenguva refu sezvivakwa nemichina. Gross investment ndiyo kukosha kwedhora rekushandisa kwakadaro; net investimendi ndiyo inosara mushure mekubvisa depreciation, aka kupfeka uye kubvarura. Haisi nzira iri nyore kuisa kukosha kwedhora pairi, asi ndizvo zvese zvatinazvo. Uye kunze kweizvi, idzi ndidzo nhamba dzinogadzirwa nehurumende yecapitalist kuti inzwisise hupfumi hwayo, saka wadii kudzitora zvakanyanya, kunyangwe mabhunu achiratidzika kunge asina kuvhunduka nezvavo?
Yakadhirowa pazasi ndeye avhareji kukosha kweiyo veruzhinji uye yakavanzika investimendi sechikamu cheGDP pamakore gumi. Kudyara veruzhinji kunoreva kushandiswa kwezvinhu zvakagara kwenguva refu sezvikoro nemigwagwa asi zvisingabatanidzi mauto. (Kutarisira mubvunzo wandinombowana: hongu, majeri arimowo, asi haaverengeri zvakawanda; dzinenge mari dzese dzekuchengetedza carceral state dzinobva kumabasa ezuva nezuva.) Mari yega yega ine kutenga. yezvivakwa, midziyo, uye pfuma yeruzivo (IP) nemabhizinesi. Haisi kuratidzwa pagirafu rekutanga: mari yekugara, kutengwa kwedzimba nevanhu, uye kuvandudzwa kweimba iyoyo.
Avhareji yemakore ekuma1930 inoratidza mamiriro akatanhamara eKuderera Kukuru: kudyara kwepachivande kwakadonha uye New Deal-inotungamirwa neruzhinji mari yakakwira. Iwo mazinga epamusoro ekudyara kweveruzhinji akatipa zvivakwa zvatichiri kushandisa nanhasi - zvikoro, mahofisi eposvo, nemapaki. (Kune catalog yemapurojekiti iwayo, tarisa iyo Kurarama Chibvumirano Chitsva.) Mari yeruzhinji yakadzikira mukati memakore ekuma1940, zvichiratidza Hondo Yenyika II, asi yakasimuka muma1950 nema1960, ichienderana nedanho rema1930 apo chikamu chehurumende chakawedzera. Yakanga isiri yekugara: kuomesera uye privatization kuziva kwakatora, uye ikozvino mari yeruzhinji yeruzhinji yakaderera.
Kudyara kwakazvimirira kwakakwira mumakumi emakore mushure meHondo Yenyika II, ichikwira muma1970s. Asi izvo zvinotungamirwa neWall Street zvekuwedzera purofiti zvakawana simba repamusoro kuburikidza neshanduko yevagovani yema1980s, iyo yakashandura maitiro emakambani, yakaisa kudzvanywa pakudyara. Kudyara chikamu chakakura kwazvo chepurofiti yemakambani muzvinhu kwakazoonekwa sekuparadza - zviri nani pane kuendesa mari kune vanogovanisa kuburikidza nekutenga masheya uye kugovaniswa kwechinyakare.
Heino maonero epagore enzira yekudzikira, nzira inotevedzwa nemadotted trendlines. Iwo magirafu anotanga muna 1950, nekuti kunyanyisa kwema1930 uye '40s kungadai kwakakanganisa chiyero.
Aya magirafu anoratidza kugadzikana mukudyara kwakavanzika kubva mukupera kwema1950 kusvika kutanga kwema1980, apo Wall Street yakabatirira pakubuda kwemari yekambani yakasimbiswa. Pakave nekuvhiya mukupera kwema1990s, nguva ye "hupfumi hutsva" mania uye yekutanga yekutengesa internet - shungu dzainge dzakatsigirwa nekudyara mune tekinoroji yaifanirwa kuunza ramangwana. Hatisati tamboona zvakawanda zveizvi mune yazvino iteration yetech mania, nguva yeUber neAirbnb.
Heano kutarisa kune zvimwe zvikamu zve private investment. Zvishandiso uye kunyanya zvimiro zvematrendlines zvinoratidza inoenderera ichidzika nzira. Kupokana nazvo, kusimuka kweIP kunomira pachena - kusvika painodarika kudyara muzvivakwa uye iri kukwikwidza michina. Zvese zviri zviviri zvishandiso uye zvimiro zvaishandiswa kuve akati wandei IP. Macapitalist ari kushandisa mari shoma pazvinhu zvinofanirwa kusimudzira budiriro yakajairika uye yakawanda pazvirongwa zvemutemo zvinodzivirira zvavo.
Yakaderera mwero wenet yakavanzika investimendi haifambiswe nekudzikira mukudyara kwakakura, kwave kugadzikana. Pane kudaro, zvikonzero zvikuru zvekudzikira kuchinjika kuenda kumidziyo ipfupi, uye kusashanda kweIP uye kusuduruka kubva kune zvivakwa. Kubva 1950 kusvika 1999, mambure ega ega emari akaenzana ne32% yegross; kubva 2000, zviri avhareji 20% - uye 16% kubva 2020. Every asset chikamu akaona kuti kuchinja - kunyange zvivakwa.
Intellectual Property Investment, iyo chikamu chekudyara kwebhizinesi chakakura kubva pa8% muna 1950 kusvika 40% nhasi, inowedzera imwe nhanho yekupfupika kune nyaya. Nyanzvi dzezvebhizinesi dzinoda tout IP sechinhu chinosimudzira kukuvandudza; ndiani angagadzira chero chinhu kana vasingakwanisi kuita patent? Vanhu vazhinji vangadaro, chaizvoizvo. Izvozvi padivi, hunyanzvi hwekutanga muzvikamu zvakaita semakomputa nemishonga zvakapihwa mari nemasangano everuzhinji, kwete makambani akazvimirira, anozokodzera izvo zvitsva kuita purofiti kubva mukutsvagisa kwavasina kubhadhara. Panzvimbo pekutsigira hutsva, yakawanda IP investimendi ndeye kuyedza kumisa monopolies, ingave mune yazvino mutsauko pane antidepressant kana Disney katuni hunhu. Asi kunyangwe pano, maitiro ekuenda kuzvinhu zvenguva pfupi ari kuoneka: net IP investimendi yakabva pa27% yegross muma1950s uye '60s kusvika 16% kubvira.
Kune veruzhinji, kuderera kwekudyara kwemambure kwave kwakanyanya, kudonha kubva kutenderedza 2% yeGDP mumakumi emakumi emakore ekutanga pagirafu kusvika ku0.4% kubva 2020. (Iri 0.3% kusvika zvino muna 2022.) Kufanana nebazi rega rega, takaona shanduko kuenda kuzvinhu zvinorarama kwenguva pfupi, asi kusiyana nebazi rakazvimirira, takaonawo kudzikira kwekudyara kwakakura, kwakadonha nechidimbu pakati pemakore ekuma1960 kusvika kuma2020. Net yeruzhinji investimendi sechikamu chemari yakakwira kubva pa67% muma1950 nema1960 kusvika pa27% muma2020. Net federal civilian investment ingori 0.1% yeGDP kusvika pari zvino makore gumi aya, chikamu chetatu cheavhareji yayo 1950-1999. Mari yehurumende neyemunharaunda yakaderera zvakanyanya, yakaderera neanenge matatu-makota kubva paavhareji yemakore makumi mashanu kusvika ku0.5% mu2020s (0.3% kusvika zvino gore rino).
Uye sekuratidza kunoita girafu riri pamusoro, pekugara mambure ekudyara haisi kuita zvakanyanya: yakabva paavhareji ye2.8% yeGDP kubva 1950 kusvika 1999 kusvika 1.7% muma2020s. Kusiyana nepakati pema2000s edzimba bubble, iyo yakatora mari yekugara kusvika 3.8%, iyo yepamusoro-soro kubva kutanga-Hondo Yenyika II makore, bubble razvino rakatora mambure ekudyara dzimba kusvika 1.9% chete yeGDP gore rapfuura. Yakadzokera ku1.4% muna 2022. Iyi haisi iyo nzira yekusangana nekushomeka kwedzimba kunofungidzirwa ne Freddie Mac pamamiriyoni zana nemakumi manomwe ezviuru.
Kuputika kwekudyara kwepachivande mukupera kwema1990 kwakatipa kukurumidza kugadzirwa kwechigadzirwa, asi kwaisazogara. Uye kuputika kwekudyara kweveruzhinji kubva kutanga kwema1950 kusvika kuma1960 kwakatipa migwagwa mikuru, zvikoro, uye masisitimu eyunivhesiti yenyika. Kudzikira kwenguva refu mukudyara kwemari, zvese zvakazvimiririra neruzhinji, zvakatipa kukura kwakamira kwechigadzirwa uye kuparara kwezvivakwa.
Sezvandakaisa pandakanyora nezve net investment makore mashanu apfuura, "Dai ndaiva mucheki weclickbait akadzikisirwa, ndaidaidza izvi 'Zvese zvisina kunaka neAmerica mumachati maviri.' Asi handisi, saka handidi. Asi zvakadaro . . .โ
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