Any doubt that private finance is procyclical af? The proof is in the pudding of the new arms race. A must-read on @phenomenalworld.bsky.social:
Alfredo Saad-Filho & Jack Taggart | Defense Dividends
The interpenetration of private finance and the military
phenomenalworld.org
New in @phenomenalworld.bsky.social w/@alfredosaadfilho.bsky.social. As geopolitical competition intensifies, major states are militarising, & private finance is investing across competing blocs. The prospect of durable peace is now at odds with the logic of financial returns. tinyurl.com/4s4fjwce