Joseph Baines and I have published a new article, ‘The Great Debt Divergence and its Implications for the Covid-19 Crisis: Mapping Corporate Leverage as Power,’ in New Political Economy.

In the article we map leverage ratios, debt servicing costs, effective interest rates, and net profit margins for the top 10%, the next 40% and bottom 50% of non-financial corporations headquartered in the US and listed on the stock market. Our findings point to a ‘great debt divergence’ in the US in recent decades, as the fortunes of large corporations have diverged significantly from their smaller counterparts.

We wrote up a summary of our main findings in a piece for The Conversation.