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The decline happened when the rich realised that expropriation was no longer a risk. The aftermath of the Great War (the rise of communism and the Great Depress

The decline happened when the rich realised that expropriation was no longer a risk. The aftermath of the Great War (the rise of communism and the Great Depression) scared the owners of capital into giving a much larger share of production to labor (the split went from 50-50 to 70-30). By the late 1960s the risk of expropriation had gone and so capital owners started taking back their share until we are now back to 50-50 and heading lower. The masses know that something is very wrong, but they don't know what to do and hence the thrashing around for alternatives. As long as the rich keep the door to upper middle class open to the cognitive elite they are safe.

internaut 10y ago
Capitalists coordinating together to not make money? Not sure that is possible.
- danieltillett 10y ago
  Of course they can do this. Nothing like facing a revolution to concentrate the mind. The rich handled this whole risk very well once they realised revolution was a real possibility. The only thing that amazes me is how strategic they were in handling the situation and how they were willing to sacrifice income and power for generations to win the class war. They are certainly being advised by the best minds available.