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"Us"? Who, exactly, is "us"? Since around 1980, all the "amazing global growth" has largely gone to those who own and hold financial instruments, while those
by logfromblammo 9y ago
"Us"? Who, exactly, is "us"?
Since around 1980, all the "amazing global growth" has largely gone to those who own and hold financial instruments, while those who make and those who serve have just been treading water all this time.
I can't imagine how unbelievably wealthy I would feel if my class's wages had risen commensurate with increases in productivity, but I certainly don't feel all that rich now.
- astrodust 9y agoAmerican wages have been stagnant. Meanwhile the rest of the world has been industrializing. I'm sure it's just a coincidence but the 1980s was the beginning of the "off-shore everything" trend.
- logfromblammo 9y agoAnd yet social mobility has also been stagnant in the developing world for the last 30 years. So offshoring made a few people outside of W.Europe/US more rich in the 80's, but then the party was over for them, and it was back to the wealthy class sucking up all the excess production, everywhere.