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1) Unions were crushed. 2) Fed induces a recession whenever wages grow (that's what inflation targeting literally means). If you read about the power labor had
by chrismealy 9y ago
1) Unions were crushed.
2) Fed induces a recession whenever wages grow (that's what inflation targeting literally means).
If you read about the power labor had between WW2 and the 1970s it's so alien, it's like science fiction.
- cm2187 9y agoTechnology and the economic emergence of formerly third world countries has done more against labor in the US than the fed and the lack of unions.
- chrismealy 9y agoThe plutocrats who spent forty years trying to crush the labor movement didn't think so. Foreign workers didn't cause the Volcker shock.
- bjourne 9y agoIn a way that only moves the question. How were unions crushed? Why haven't they been able to recover?