Analysts had tipped the world’s third largest economy would shrink slightly at the start of 2019.
Our first two installments have dealt with the origins of the Deep State in North America by reviewing the creation of the Rhodes Scholarship/Chatham House network at the end of the 19th century and the infiltration of indoctrinated scholars into every governing branch of western society. We traced the key players in this Oxford-based network who were formed with the intent of fulfilling the will of Cecil Rhodes to “form a church of the British Empire” and undo the effects of the American Revolution as a global phenomenon. We also saw how these networks worked closely with another early “think tank” called the Fabian Society in order to advance an agenda that required the destruction of the sovereign nation state system which had been founded upon the 1648 Treaty of Westphalia. This was exemplified by the 1999 “Chicago speech” of Fabian asset Tony Blair when he stated that the world must now embark upon a “post-Westphalian order” setting the stage for 9/11 and the new era of regime change that was soon unleashed. In the following report, we will look at the origins of the Fabian Society, by examining some of its founding members and governing philosophy.
The Nature of the Beast
Polarization is the name of empire. If a society can be kept under the control of their belief in what their senses tell them, then the invisible structures governing their behaviour will remain mystical and unknowable. More importantly than that, those intentions shaping such structures towards a pre-determined goal will also remain unknowable. If unknowable, then beyond the reach of judgement, and if beyond the reach of judgement, then unchangeable. This has been the great secret of empire since the days of the Babylonian priesthood and Babylon`s whore Rome, since whose collapse, three more incarnations have manifested themselves in the forms of the Byzantine, Venice and Anglo-Dutch empires. This is the dynamic at the heart of what has today come to be known as “the Deep State”.
With the 15th century rediscovery of the efficient power of self-conscious reason as a knowable and self-developing potential in the soul of every human, the renaissance-humanist conception of mankind had blossomed. With that conception of imago viva dei (1) led in large measure by the unique discoveries and life`s devotion of Cardinal Nicholas of Cusa (1401-1460), a revolution in science, art and statecraft occurred. Natural law both in the sciences, in the arts and especially as a standard when shaping physical economic policy became accessible to self-consciousness.
With such discoveries came new principles of self-organization, such as the 1648 Peace of Westphalia that not only put an end to the oligarchy`s 30 year religious warfare, but established the principle of `The Benefit of the Other` as the basis of national sovereignty. From the 1648 Peace, a new platform was created upon which the next great revolution could begin with the 1776 American Declaration of Independence. With the 1776 Declaration and 1789 Constitution, a nation founded upon life, liberty and the pursuit of happiness was instituted for the first time amongst men. By 1791, Alexander Hamilton, First Treasury Secretary and Benjamin Franklin protégé established his American System of Political Economy with his 1791 reports on the National Bank, Public Credit, and most importantly the Subject of Manufactureswhere Hamilton defined the purpose and value of economic planning, not according to “pleasure/pain, utility or money”, but rather “to cherish and stimulate the activity of the human mind, by multiplying the objects of enterprise, is not among the least considerable of the expedients, by which the wealth of a nation may be promoted. Even things in themselves not positively advantageous, sometimes become so, by their tendency to provoke exertion. Every new scene, which is opened to the busy nature of man to rouse and exert itself, is the addition of a new energy to the general stock of effort.”
This American System was the effect of rigorous studies of Platonic texts such as the Republic, and the French Cameralist (aka: Dirigist) economic school as applied by such leading organizers of the Westphalian Treaty as Cardinal Mazarin, and France’s Finance Minister Jean-Baptiste Colbert, not to mention their spiritual heir, the great scientist and statesmanGottfried Leibniz. Nearly written out of today’s history books, these men played a direct role in the formation of the early colonies of the Americas and New France. In his 1984 So You Wish to Learn All About Economics?, a modern representative of this tradition, Lyndon H. LaRouche (1923-2019), credits Leibniz as also having been the founder of the science of Physical Economy and intellectual inspiration for the American System (2). Virtually every nationalist American president who attempted to revive this system throughout the coming two centuries, including President Trump today had to contend with Britain’s deep state structures within America itself.
Marx and Smith: Two Imperial Reactions to American Progress
Our most recent 500 years of universal historyhave been principally driven by the British oligarchy`s burning fear of the applied truth of these discovered principles of self-organization of mankind as a whole. Every innovation by the British Empire since that time, has been effected specifically with the intention of undoing the truth that such singular leaps in potential imply for humanity`s true destiny.
In order to obscure the truth of the American System`s success and even existence as an idea, two programs were formulated by liars and fools directly under the pay and control of the leading priests of the British Empire. The first was known as Adam Smith`s doctrine of Free Trade as elaborated in his 1776 Wealth of Nations. The second was Marx`s doctrine of Communism as elaborated in his 1867 Das Capital. Wealth of Nations was a response to the American Revolution, and served as a framework to convince the new republic to abandon plans at developing manufacturing and remain agrarian, emphasizing individual liberty/pleasure but not the well-being of the whole. In Smith’s doctrine, national rights to protectionism against the dumping of cheap goods and directed credit were antagonistic to “self-regulating marketplaces”. Inversely Marx’s Capital was produced as a response to the `2nd American Revolution` of 1865 and served as a sophistical argument to attempt to control the industrialization built up by the Hamiltonian American System since 1791. Das Capital focused on the utilitarian “Good” of the whole at the expense of the individual.
Both systems of Smith and Marx were not only grounded in a radical empiricism (belief in the validity of sense-impressions), but also empiricism`s necessary corollary: that mankind is in essence no more than 1) his material flesh and 2) his ability to adapt to his material environment, both political and physical. Thus, contrary to the Renaissance humanist view that premises mankind’s essence on his soul and capacity to express his creative personality by discovering and changing the laws of the universe for the better, the empiricist of the left or the right, concludes that mankind is actually a beast. Creative leaps of progress in the arts and science which apparently separate man from the biosphere, and permit for the increase of the productive powers of labour without intrinsic limit must be assumed by the empiricist to be merely chimerical anomalies which must be kept as obscure as possible from the mass of the human cattle.
By Marx’s day, Darwin’s thesis of natural selection as the effect of a constant struggle for existence had provided new fuel for the imperialist’s world view and had fed Marx’s thesis. After reading On the Origin of Species, Marx sent a personally signed copy of Das Capital to Darwin in 1873 and had a German edition dedicated “In deep appreciation for Charles Darwin”.
Both systems also share the common lie that since universal principles are unknowable, that the only metrics a society is permitted to use in judging value are some mixture of “pleasure” and “utility”. Of the two, Smith was much more explicit in his writings on this point. In his Theory of Moral Sentiments (1759), he writes:
“Hunger, thirst, and the passion which unites the two sexes, the love of pleasure, and the dread of pain, prompt us to apply those means for their own sake, and without any consideration of their tendency to those beneficent ends which the great Director of nature intended to produce by them.”
Fabianism: Fascism from the Left
It is a fact that cannot be missed by the honest intellect that recent history has been shaped by agencies operating outside of the general field of perception of the majority of the population. As previous reports have documented, such agencies have expressed themselves in the form of two polarities operating from one Oxford mind during the first years of the 20th century. Those two operations were the Round Table Movement catering to the so called “new right” anglophiles of the world on the one side, and a “new left” sect known as Fabian Socialists on the other. Through their various manifestations over the century, both organizations have worked together to create structures of thought, belief and law which lock their victims into a world where creative improvement of man and nature mediated by self-conscious reason is abandoned.
In this world of no change, the ugly fact of diminishing returns cannot be avoided since no new resources except those that are already in practice can come into being. In this system of scarcity, the ugly necessity of sterilization, and murder of the unfit based on material considerations (both genetic and environmental) becomes real, and the laws of Malthus become hegemonic. This process of decay has become more popularly known as “Entropy” or “The Second Law of Thermodynamics” (3), and has become treated by a language developed as an outgrowth of the belief called “systems analysis”. The hegemony of systems analysis today is due directly to the Fabian Society networks and Rhodes Trust allies working through both Soviet and Western systems throughout the Cold War.
The Fabian Society was founded by an elitist clique of Darwinian propagandists in 1884 who saw Karl Marx’s newly published system as the perfect vehicle to carry Darwin’s logic into the belief structure of the masses. In fact, all members were devout racists obsessed with the problem of convincing mankind to submit to racial cleansing along the lines prescribed by Herbert Spencer’s Social Darwinism and Francis Galton’s field of Eugenics. Both Spencer and Galton were closely directed by Thomas Huxley’s X Club, at this point entirely in charge of imperial science policy. The eerie Fabian Symbol features a wolf wearing sheep’s clothing.
The most prominent founding members were Sidney and Beatrice Webb and George Bernard Shaw. This group was soon joined by various influential aspiring priests of the British Empire, namely leading Theosophist Annie Besant, Huxley protégé H.G. Wells, Bertrand Russell, Arthur Balfour, and the founder of Geopolitics Halford Mackinder. The name “Fabian” was chosen for the Roman General Fabius Maximus (aka: The Delayer), who’s fame is founded on having beaten Hannibal by never engaging in direct combat, but rather by sheer endurance and attrition. In the founding Fabian document it was written:
“For the right moment you must wait, as Fabius did most patiently, when warring against Hannibal, though many censured his delays; but when the time comes you must strike hard, as Fabius did, or your waiting will be in vain, and fruitless.”(4)
The Fabian society program focused on broad social welfare programs such as universal health care, mass education, and better working conditions which were designed to attract the disenfranchised masses. Under the Fabian program, such programs held no substance in reality, as the true means to justify their creation was banned a priori (aka: scientific and technological progress). That is, the activation of self-conscious reason in all members of society.
This ruse was thus designed to merely bring the will of the lower classes under the deeper influence of a ruling oligarchy via the promise of “democratic socialism” and a naïvely utopian “end of history” ideal. All the masses have to do in order to receive their treats, is to accept being governed by a scientific priesthood which will manage their lives and eventually kill them if they are deemed too numerous or troublesome to maintain. This priesthood will manage pre-existing wealth in such a way as is expedient to placate the mob, but will not allow the creation of new wealth via the activation of the powers of mind as that would force the changing of the parameters of the fixed channels of the system which they seek to manage as gods. The controllers of Fabian Socialism are not, nor have they ever been “democratic socialists”, but brutish social Darwinists. As theosophist Annie Besant said to the Indian Congress party:
“But the general idea is that each man should have power according to his knowledge and capacity. […] And the keynote is that of my fairy State: From every man according to his capacity; to every man according to his needs. A democratic Socialism, controlled by majority votes, guided by numbers, can never succeed; a truly aristocratic Socialism, controlled by duty, guided by wisdom, is the next step upwards in civilization.”(5)
Without a genuine commitment to scientific discovery and the unbounded increase of the productive powers of labour, as laid out clearly in the American System of Political Economy, then no promise of social welfare measures are durable. Any such handouts will necessarily result in a Ponzi-pyramid crisis which will, by its very nature, force the logic of triage and thus fascism onto the dupes that “democratically” permitted its hegemony. All current arguments to cut social security, pension plans, health care, and education are derived from this function. The rise of environmentalism as a “new post-industrial religion” today pushed by a Green New Deal has a blood curdling agenda of depopulation behind its nominal socialist costume.
Working closely with leading figures of Oxford, and especially the Rhodes Trust, the Fabians set up their own school with Rothschild funding called the London School of Economics (LSE) in 1895. The ideological framework employed by both the LSE and Oxford agents were always formulated by Cambridge, which to this day remains the core intellectual hive of the empire’s rotten ideas. Oxford and LSE continue to exist primarily for the purposes of setting up programs which “apply” those “pure” ideas formulated in Cambridge into general practice in the interests of the ruling oligarchy. Prominent Fabian controllers who recruited young talent at the LSE were Frederick von Hayek, Bertrand Russell, John Maynard Keynes, and Harold Laski.
Five years after LSE was established, the Labour Party was created as the official Fabian political party. Its function was essentially take over the role of the left from the Liberals in opposition to the Conservative government which had previously been the two hegemonic parties in Britain. One of the most perverse members of the movement, playwright George Bernard Shaw laid out the method of permeation which had governed the Fabian success in permeating influential socio political institutions:
“Our propaganda is one of permeating – we urged our members to join the Liberal and Radical Associations in their district, or, if they preferred it, the Conservative Associations – we permeated the party organizations and pulled all the strings we could lay our hands on with the utmost adroitness and energy, and we succeeded so well that in 1888 we gained the solid advantage of a Progressive majority full of ideas that would never have come into their heads had not the Fabians put them there.”
This is exactly what was done. Over this century, the LSE has conditioned dozens of heads of state, tens of thousands of civil servants and several generations of academics.
In Canada this process was replicated in 1931 when the “Fabian Society of Canada” was created by 5 Rhodes Scholars and dubbed the League of Social Reconstruction. It quickly created a pro-eugenics political party called the Cooperative Commonwealth Federation in 1932 which changed its name to the NDP in 1961. Many of its core controllers took over the Liberal Party after the purge of pro-American system statesman C.D. Howeand his allies after 1957.
More cabinet officials under Barack Obama had studied at Oxford and LSE than its American counterparts Yale, Harvard or Princeton (6). This is the essence of the Deep State which has sought to overthrow President Trump ever since he became a serious candidate in the 2016 elections.
This method of “permeation” is analogous to a virus taking over the white blood cells of a victim. At first, the virus’ presence in the system is hardly noticeable, but when organs begin to unexpectedly malfunction, the thoughtless person may foolishly choose not to seek help, but wait for the immanent point at which he is past the point of no return. This infection has taken place thousands of years ago, and while humanity produced bursts of potential led by creative genius over the generations, mankind still has not learned his lesson.
Throwing off Zeus’ Shackles
It is of absolute necessity that now, even at this late date, the lessons of past mistakes are learnt before the lawful outcome of this virus runs its course and kills its host. The essence of mankind’s troubles is not derived by any defect in our nature, or our “greedy yearning for progress”. It is not due to our fixed “selfish nature”, nor will our problems be resolved by adopting a “sustainable” system of zero technological growth under “Green New Deals”. Such a system only exists in the delusional mind of an oligarch or their victims, but not in nature. If such a system were to be imposed on our 21st century society, a genocide magnitudes greater than anything Hitler could have dreamed will be the result.
So let us put away such Fabian theories as “man-made global warming”, and “zero growth green technologies” which will produce only famine, war, and chaos. Let us instead rediscover the identity which was inspired by Benjamin Franklin’s discovery of electric fire. The quickest path to reawakening this identity within the greatest portion of the species is by engaging in such great projects the Belt and Road Initiative, embarking upon a total nuclear power renaissance, and returning to John F. Kennedy’s vision for unbounded space exploration as Presidents Trump, Xi, and Putin have all made national priorities. If the nature of humanity is to truly live as made in the image of the creator, then adapting like an animal to the unchangeable and unknowable cycles of nature is not compatible with our purpose.
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BIO: Matthew J.L. Ehret is a journalist, lecturer and founder of the Canadian Patriot Review. He is an author with The Duran, Strategic Culture Foundation, Fort Russ. His works have been published in Zero Hedge, Executive Intelligence Review, Global Times, Asia Times, L.A. Review of Books, and Sott.net. Matthew has also published the book “The Time has Come for Canada to Join the New Silk Road” and three volumes of the Untold History of Canada (available on untoldhistory.canadianpatriot.org).
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Appendix: The Fabian Society and Round Table: Eugenics by Another Name
The Fabian Society: Eugenics From the Left
In case any doubts yet linger that the Fabians or their Rhodes Trust counterparts on the so-called “right” have advanced their agenda in order to apply genocidal eugenics programs on a scale unimagined by even Hitler, then simply read their own words, and judge for yourself.
“The moment we face it frankly we are driven to the conclusion that the community has a right to put a price on the right to live in it … If people are fit to live, let them live under decent human conditions. If they are not fit to live, kill them in a decent human way. Is it any wonder that some of us are driven to prescribe the lethal chamber as the solution for the hard cases which are at present made the excuse for dragging all the other cases down to their level, and the only solution that will create a sense of full social responsibility in modern populations?”
-George Bernard Shaw, Prefaces (London: Constable and Co., 1934), p. 296
“I believe that now and always the conscious selection of the best for reproduction will be impossible; that to propose it is to display a fundamental misunderstanding of what individuality implies. The way of nature has always been to slay the hindmost, and there is still no other way, unless we can prevent those who would become the hindmost being born. It is in the sterilization of failure, and not in the selection of successes for breeding, that the possibility of an improvement of the human stock lies.”
-H.G. Wells in American Journal of Sociology, Vol. 10 (1904), p. 11
“We may perhaps assume that, if people grow less superstitious, government will acquire the right to sterilize those who are not considered desirable as parents. This power will be used, at first, to diminish imbecility, a most desirable object. But probably, in time, opposition to the government will be taken to prove imbecility, so that rebels of all kinds will be sterilized. Epileptics, consumptives, dipsomaniacs and so on will gradually be included; in the end, there will be a tendency to include all who fail to pass the usual school examinations. The result will be to increase the average intelligence; in the long run, it may be greatly increased. But probably the effect upon really exceptional intelligence will be bad.
Eugenics has, of course, more ambitious possibilities in a more distant future. It may aim not only at eliminating undesired types, but at increasing desired types. Moral standards may alter so as to make it possible for one man to be the sire of a vast progeny by many different mothers. … If eugenics reached the point where it could increase desired types, it would not be the types desired by present-day Eugenists that would be increased, but rather the type desired by the average official. Prime Ministers, Bishops, and others whom the State considers desirable might become the fathers of half the next generation…
If we knew enough about heredity to determine, within limits, what sort of population we would have, the matter would of course be in the hands of State officials, presumably elderly medical men. Whether they would really be preferable to Nature I do not feel sure. I suspect that they would breed a subservient population, convenient to rulers but incapable of initiative.”
“Galton’s eccentric, sceptical, observing, flashing, cavalry-leader type of mind led him eventually to become the founder of the most important, significant and, I would add, genuine branch of sociology which exists, namely eugenics.”
-John Maynard Keynes on Galton’s Eugenics, Eugenics Review 1946
“Political unification in some sort of world government will be required… Even though… any radical eugenic policy will be for many years politically and psychologically impossible, it will be important for UNESCO to see that the eugenic problem is examined with the greatest care, and that the public mind is informed of the issues at stake so that much that now is unthinkable may at least become thinkable.”
-Sir Julian Huxley, UNESCO: Its Purpose and Its Philosophy. 1946
The Round Table: Eugenics from the Right
“I contend that we are the finest race in the world and that the more of the world we inhabit the better it is for the human race. Just fancy those parts that are at present inhabited by the most despicable specimens of human beings what an alteration there would be if they were brought under Anglo-Saxon influence, look again at the extra employment a new country added to our dominions gives. I contend that every acre added to our territory means in the future birth to some more of the English race who otherwise would not be brought into existence. Added to this the absorption of the greater portion of the world under our rule simply means the end of all wars, at this moment had we not lost America I believe we could have stopped the Russian-Turkish war by merely refusing money and supplies. Having these ideas what scheme could we think of to forward this object.”
-Cecil Rhodes, Confession of Faith, 1888
“I do not agree that the dog in a manger has the final right to the manger even though he may have lain there for a very long time. I do not admit that right. I do not admit for instance, that a great wrong has been done to the Red Indians of America or the black people of Australia. I do not admit that a wrong has been done to these people by the fact that a stronger race, a higher-grade race, a more worldly wise race to put it that way, has come in and taken their place.”
-Winston Churchill to the Peel Commission, 1937
US intelligence chiefs have warned American companies about doing business in China
Chinese president’s state apparatus could help him to outlast Trump
Amid record crops and rising prices for consumers, some growers are unable to cover their costs
A horrific story has sent shock and panic through Pakistan, further entering global headlines at the end of this week: Pakistani police are holding a doctor on suspicions that he intentionally infected over 500 people, including 400 children, with the HIV virus.
The investigation began after an HIV epidemic was uncovered in an urban district of Pakistan’s south starting in February, and after over ten families accused a local doctor of treating their children with used syringes.
From there, attention focused on a child specialist in the small city of Ratodero named Muzaffar Ghangharo, who himself reportedly has Aids, and may have infected hundreds with HIV using contaminated needles, but he claims he didn’t do it intentionally, which a police investigation is now trying to determine.
According to Al Jazeera the HIV outbreak has sparked a wave of national panic:
Parents flock to screening rooms set up at a makeshift clinic to get their children examined for HIV in a village in southern Pakistan, where hundreds of people have been allegedly infected by a doctor using a contaminated syringe.
At least five different screening rooms have been set up in the last month in the village of Wasayo on the outskirts of Larkana in Sindh province.
“They are coming by the dozens,” says a doctor at the makeshift clinic, beset by a lack of equipment and personnel to treat the surging number of patients.
Historically, the Islamic conservative country has long had a low prevalence for HIV, but reports this week say it’s now spreading at an “alarming rate”.
Families in rural areas impacted, but with little resources and only access to hospitals with poor sanitation practices, are outraged and desperate according to reports.
The child specialist Muzaffar Ghangharo is due in court on May 21st, with Pakistani doctors telling reporters they’ve counted the total number of infected related to his clinic at a stunning figure of over 500 people, which includes at least 437 children.
Pakistani police are investigating whether a doctor intentionally infected over 500 people, including 400 children, with the HIV virus
— TRT Worldpic.twitter.com/rSx42lAw33
— EHA News (@eha_news) May 18, 2019
A local police officer involved in the investigation told The Guardian of the suspect’s confession: “He said that he didn’t do anything intentionally. Ghangharo said that in his statement to police. [But] four kids have died and their parents have blamed the doctor for killing them.”
Reports further say the child doctor’s professional credentials are unknown at this point. “For the sake of saving money, these quacks will inject multiple patients with a single syringe. This could be the main cause of the spread of HIV cases,” one local health official said.
Health workers are now mass screening residents of Sindh province, where the outbreak is concentrated, and have reportedly already tested 16,000 in the past couple months. The province’s Aids control program director identified that after testing thousands, which identified hundreds of infected, “Sixty per cent are children less than five years.”
Some of the personal family accounts are absolutely gut-wrenching, such as the following:
A few months ago, Fatima Emaan came down with a persistent fever. So her father, Syed Shah, took the infant to a few doctors, including a local child specialist in Ratodero, a small city in Pakistan’s south.
But the visits seemed only to worsen the 16-month-old girl’s condition. In February, a doctor told Shah his daughter was presenting the symptoms of HIV. On 1 March, her results came back. “They double- and triple-checked it and told us that Fatima is suffering from HIV,” Shah said.
Shah says his daughter was the first child to be diagnosed in what has become an HIV epidemic in the district…
The shocking incident has spotlighted hospital and medical practices and sanitation especially in remoter parts of Pakistan.
This includes complaints of high numbers of unqualified doctors along with the “reuse of syringes, unsafe blood transfusions, and other unsafe medical practices” according to an expert on infectious diseases, Bushra Jamil, at the Aga Khan University in Karachi, in an interview with Al Jazeera.
Nationwide, Pakistan’s health ministry has put the total figure of registered HIV cases at 23,000 — which is tragically expected to grow after the latest crisis.
New US restrictions were placed on the Chinese tech giant last week over cyber-security fears.
Submitted by Priceonomics
Each year, the annual Revenue Per Employee rankings for the S&P 500, the 500 largest American companies listed on the NYSE or NASDAQ are relased. Revenue Per Employee (RPE) can be a measure of how efficiently companies utilize human capital. In this report, we will examine the top performers and the worst performers and compare to our rankings from last year.
Before we dive into the company rankings, we looked at the average Revenue per Employee by sector, to see from a broader perspective which industry has the highest human capital efficiency.
Energy & Utilities remains the top performing sector in terms of Revenue per Employee and the only sector with an average Revenue per Employee greater than $1M. Healthcare, Mobile & Telecommunications, and Financial Services sectors are also performing well.
In addition to the absolute numbers, we also analyzed the average growth rate across sectors since FY17.
All sectors saw positive growth in Revenue per Employee in FY18 compared to FY17. Food & Beverage, although the lowest performer in terms of Revenue per Employee at $95K per employee, had the highest growth at 22% year-over-year. Energy & Utilities, the top performer for FY18 Revenue per Employee at an average of $1.7M per employee, also exhibited high growth at 12% year-over-year.
Next, we look more closely at how specific companies are performing. The table below shows the top 25 companies by Revenue per Employee (Revenue per Employee) in 2018 in the S&P 500, along with how their Revenue per Employee compared to 2017.
Energy company, Valero Energy Corporation, tops the chart at $11.4M in Revenue per Employee at the company. Energy companies, in general, dominate this ranking for their human capital efficiency, with 17 out of the top 25 companies in the Energy sector, including Phillips 66, Cabot Oil & Gas, EOG, HollyFrontier, ONEOK, and Exxon Mobil. Three Healthcare companies, AmerisourceBergen, Cardinal Health, and McKesson, appear on the list, as well as two Financials companies, Everest Re Group and CBOE Holdings. The sole Technology company to appear on the list of top 25 companies by Revenue per Employee was video subscription giant, Netflix.
In contrast, the table below shows the 25 companies with the lowest Revenue per Employee in 2018 in the S&P 500, along with how their Revenue per Employee compared to 2017.
Similar to the rankings in 2017, Consumer Discretionary companies top the rankings of worst performing companies in terms of Revenue per Employee. These companies typically require larger employee headcount to staff brick-and-mortar locations to support their operations. For example, food service companies, like Darden Restaurants, Chipotle Mexican Grill, Starbucks, and McDonald’s, all appear at the top of the rankings with the lowest Revenue per Employee. Similarly, as we explored in our previous report, consultancy companies, like Accenture and Cognizant, require large teams to staff engagements and performance is largely tied to how many consultants they have to offer services to clients.
Next, we look at which companies are making the largest increases in their human capital efficiency. The table below shows the 25 companies with the highest growth in Revenue Per Employee in 2018 compared to 2017.
Nektar Therapeutics, a biopharmaceutical company, tops the list with 219% growth in their Revenue per Employee since 2017. Energy companies, which were the top performers in terms of absolute numbers, also rank highly for growth in Revenue Per Employee. Interestingly, Yum! Brands, parent company of KFC, Taco Bell, and Pizza Hut, was able to increase their Revenue per Employee by 70.8% in the past year. However, this was actually due to a large decrease in headcount from 50,354 in 2017 to 32,076 in 2018, according to their annual reports.
The table below shows the 25 companies with the greatest decline in Revenue Per Employee in 2018 compared to 2017.
Two payments companies, Total System Services (known as TSYS) and Global Payments, appeared high on the list for largest decline in Revenue per Employee since 2017. Hasbro, the large toy manufacturer, saw an 18.2% drop in Revenue per Employee in the wake of the Toys-R-Us liquidation. The Healthcare sector, although with high performance in absolute numbers of Revenue per Employee, did also see large decreases in Revenue per Employee, representing 7 out of the 25 worst performing companies.
Finally, we look at Technology companies to see which out of the S&P 500 Technology companies had the highest Revenue per Employee for 2018.
Apple led the rankings, as the only Technology company with over $2M in revenue generated per employee at the company. Facebook and Alphabet, the parent company of Google, both appeared high on the list with over $1M in revenue per employee. Overall, the average RPE for the Technology sector was just under $700,000 and these Technology companies saw 7.3% growth on average from 2017 to 2018.
The fastest growing companies in terms of Revenue per Employee from 2017 to 2018 were: Nektar Therapeutics, Pioneer Natural Resources Company, PVH, Cabot Oil & Gas Corporation, and Sempra Energy. Each saw over 70% growth in Revenue per Employee since the previous fiscal year, with Nektar Therapeutics topping the ranking at 219% growth.
Energy companies continue to have high revenues compared to employee headcount, representing almost 70% of the top 25 companies with highest Revenue per Employee. Energy & Utilities also had the highest average Revenue per Employee on the sector level, and also saw high growth since FY17.
Consumer Discretionary companies have high requirements for human capital to support revenues and therefore, have low Revenue per Employee. Food & Beverage companies, including franchise restaurant companies, had the lowest Revenue per Employee on the sector level, but did see high growth at 22% since FY17.
Note: We excluded a handful of organizations, primarily real estate investment trusts, from our rankings to eliminate a skew in our data, as these companies have very high revenues and low employee headcount due to the nature of their business. The companies we excluded from the list include: Host Hotels & Resorts, Welltower, HCP, Federal Realty Investment Trust, Ventas, Realty Income Corporation, Boston Properties, Alexandria, Duke Realty Group, Kimco Realty Corporation, and Regency Centers.