Subject: Re: How Capitalists Destroyed Capitalism
...1980 looks like the start of a trend. I wonder what happened.

My view: mismeasurement.

A lot of people bewail the crash in business investment, but they are looking too locally. What's one country in the grand scheme of things? Capex soared in China, fell modestly elsewhere, in aggregate it rose a lot.

It doesn't show up on the books of many US firms because they outsourced it, but it's still the capex that supported those same firms' sales.

Jim