>>24794872
Here are the facts.
Profitability rates in the U.K. have been declining since the 1950s, coinciding with a recession in 1990, and the profit rate graph aligns with these facts. Minimum wage laws were enacted because profitability rates were low, and real wages stagnated between 1990 and 1998, as your graph shows. Real wage stagnation ended, profit rates collapsed again in 2007, which is consistent with Marx's theory of the tendency of the profit rate to fall. Profits increased after 1990 because the United Kingdom borrowed money, leading to a significant rise in the country's debt, surpassing its GDP since 1990. This proves that the U.K. is no longer profitable and relies on debt to sustain itself. The money comes from bonds and the EU, but this borrowing has caused inflation and wage growth to stagnation. The United Kingdom struggles to generate profits for its firms due to stagnant population growth and outsourcing to countries like China, placing it in a situation secular stagnation that it cannot escape. All of this logic is consistent with the central theorem of Marx's Capital that profit rates under capitalism tend to fall due to decreasing constant capital and variable capital costs, forcing firms to lower wages through immigration or outsourcing.
All of these are empirical facts. You have no addressed a single one, or shown, why any of this incorrect.
Instead, you've stupidly shown you can not read graphs, or understand why a government would have low interest rates on public debt when its sustained on borrowing alone. You have not addressed ANY of these points. And you can't. And we both know why. You are wrong. There is no possible way you can refute these facts. They are visible to anyone.
>AUSTRIAN school
See, this is how I know you're a pseud. The Austrian school of economics doesn't even back up their claims with proof. They explicitly reject any evidence of empirical claims because they rely on only apriori claims, not evidence. It's all just pseudo-science and worthless conjecture. Even laughably, we see in Argentia, with Millei, the Austrians have been proven wrong, despite austerity, Argentina's economy has not recovered and Millei is on track to lose political. Again, you have completely ignorant on the topics you discuss, and observable reality refutes any arguments you make for now and forever.