Sunday, 16 January 2011

Financial sector profitability: how things have changed

"From 1973 to 1985, the financial sector never earned more than 16 percent of domestic corporate profits. In 1986, that figure reached 19 percent.

In the 1990s, it oscillated between 21 percent and 30 percent, higher than it had ever been in the postwar period. This decade, it reached 41 percent. Pay rose just as dramatically.

From 1948 to 1982, average compensation in the financial sector ranged between 99 percent and 108 percent of the average for all domestic private industries. From 1983, it shot upward, reaching 181 percent in 2007."

Simon Johnson, "The Quiet Coup", The Atlantic (May 2009).


chefdave said...

Alice, you have to see this:

Watch it and weep

Anonymous said...


Mark Wadsworth said...

That's a good fine and a fair summary.

Mark Wadsworth said...

"find" not "fine".