The Internet is the new technology that has profoundly changed business and the economy. Gary Wilson explains.
Every day there are new mergers announced, with layoffs and cuts in the new merged corporation.
This is followed by breakups and spinoffs, which are then followed by new mergers. The reason for this mayhem is that capital generally goes to wherever the rate of profit is highest. But eventually the rate of profit starts to decline and then capital flees to the newest source of high profits. The bosses will use this merger first to cut jobs, and ,if they can ,break the back of the union. For us, that is one of the most important aspects of this or any other merger.