Charles Hugh Smith's Substack

Charles Hugh Smith's Substack

Share this post

Charles Hugh Smith's Substack
Charles Hugh Smith's Substack
All Three Pillars Holding Up the Economy Have Cracked

All Three Pillars Holding Up the Economy Have Cracked

All three pillars propping up workforce spending are cracking. Plan accordingly.

Charles Hugh Smith's avatar
Charles Hugh Smith
Dec 16, 2024
∙ Paid
95

Share this post

Charles Hugh Smith's Substack
Charles Hugh Smith's Substack
All Three Pillars Holding Up the Economy Have Cracked
5
25
Share

Karl Marx and Henry Ford both understood the key pillar of an industrial economy: the workforce has to earn enough to buy the output of the economy. If the workforce doesn't earn enough to have surplus earnings to spend on the enormous output of an industrial economy, then the producers cannot sell their goods / services at a profit, except to the few a…

Keep reading with a 7-day free trial

Subscribe to Charles Hugh Smith's Substack to keep reading this post and get 7 days of free access to the full post archives.

Already a paid subscriber? Sign in
© 2025 Charles Hugh Smith
Privacy ∙ Terms ∙ Collection notice
Start writingGet the app
Substack is the home for great culture

Share