Debt and rational job class agents

Imagine the probability of a political revolution that wipes out the existing obligation grid
Among much else

This will certainly change the time horizon of a rational class  agent

Is risk insurance as fundamental as financing or as lot values ?

Family mortgage debt doubled from 01 to 07

Yup 5.6 to 11.2 trills

Rule one : equity finance is too slow

So

The rate of development will slow overall

Reformers insisting leverage is anathema to economic stability
Have misplaced the purpose of  scientific production
Innovation

Slow innovation
Slow social development

The real system out there will never turn it's back on leverage for long

Real relative wage rates and labor time values

Share the wealth comrade capitalist

"The 2000s witnessed an unprecedented drop
in the labor share of income.

  the stagnation of wages,
 rather than accelerated labor productivity,
 has been behind the drop in the labor share from 2000 onward. "


A longer view
Back to 1987 

" manufacturing..... dropped almost 10 percentage points. 
Virtually all the major manufacturing subsectors saw their labor shares fall; 
for nondurable goods manufacturing it dropped from 62 percent to 40 percent. 


The labor share within the service sector kept increasing, as it had before 1987, 
but very modestly, only enough to cancel the downward pressure 
from the shift across sectors. Indeed, had the labor share of income
in manufacturing stayed constant, the overall labor share would have barely budged. "

Old-Age, Survivors, and Disability Insurance Trust Funds, 1957-2015
[In millions]

			Asset Reserves a
Calendar year	Total receipts	Total expenditures a	Net increase during year	Asset Reserves at end of year
1957	$8,090	$7,567	$523	$23,042
1958	9,108	8,907	201	23,243
1959	9,516	10,793	-1,277	21,966
1960	12,445	11,798	647	22,613
1961	12,937	13,388	-451	22,162
1962	13,699	15,156	-1,457	20,705
1963	16,227	16,217	10	20,715
1964	17,476	17,020	456	21,172
1965	17,857	19,187	-1,331	19,841
1966	23,381	20,913	2,467	22,308
1967	26,413	22,471	3,942	26,250
1968	28,493	26,015	2,479	28,729
1969	33,346	27,892	5,453	34,182
1970	36,993	33,108	3,886	38,068
1971	40,908	38,542	2,366	40,434
1972	45,622	43,281	2,341	42,775
1973	54,787	53,148	1,639	44,414
1974	62,066	60,593	1,472	45,886
1975	67,640	69,184	-1,544	44,342
1976	75,034	78,242	-3,209	41,133
1977	81,982	87,254	-5,272	35,861
1978	91,903	96,018	-4,115	31,746
1979	105,864	107,320	-1,456	30,291
1980	119,712	123,550	-3,838	26,453
1981	142,438	144,352	-1,914	24,539
1982	147,913	160,111	239	24,778
1983	171,266	171,177	89	24,867
1984	186,637	180,429	6,208	31,075
1985	203,540	190,628	11,088	42,163
1986	216,833	201,522	4,698	46,861
1987	231,039	209,093	21,946	68,807
1988	263,469	222,514	40,955	109,762
1989	289,448	236,242	53,206	162,968
1990	315,443	253,135	62,309	225,277
1991	329,676	274,205	55,471	280,747
1992	342,591	291,865	50,726	331,473
1993	355,578	308,766	46,812	378,285
1994	381,111	323,011	58,100	436,385
1995	399,497	339,815	59,683	496,068
1996	424,451	353,569	70,883	566,950
1997	457,668	369,108	88,560	655,510
1998	489,204	382,255	106,950	762,460
1999	526,582	392,908	133,673	896,133
2000	568,433	415,121	153,312	1,049,445
2001	602,003	438,916	163,088	1,212,533
2002	627,085	461,653	165,432	1,377,965
2003	631,886	479,086	152,799	1,530,764
2004	657,718	501,643	156,075	1,686,839
2005	701,758	529,938	171,821	1,858,660
2006	744,873	555,421	189,452	2,048,112
2007	784,889	594,501	190,388	2,238,500
2008	805,302	625,143	180,159	2,418,658
2009	807,490	685,801	121,689	2,540,348
2010	781,128	712,526	68,602	2,608,950
2011	805,057	736,083	68,975	2,677,925
2012	840,190	785,781	54,409	2,732,334
2013	855,021	822,925	32,096	2,764,431
2014	884,276	859,230	25,046	2,789,476
2015	920,157	897,123	23,034	2,812,510
a Beginning in 1979, benefit payments scheduled to be paid on January 3 of a given year were paid on December 31 of the preceding year as required by the statutory provision included in the 1977 Social Security Amendments for early delivery of benefit payments when the normal payment delivery date is a Saturday, Sunday, or legal public holiday. Such advance payments have occurred about every 7 years, first for benefits scheduled for January 3, 1982. For comparability with other historical years, all trust fund operations and asset reserves reflect the 12 months of benefits scheduled for payment in each year.