3 ms·
If you look at the economic graphs[1][2][3], something nasty and drastic happened virtually overnight, around 1973. None of the growth since then has "trickled
by dTal 8y ago
If you look at the economic graphs[1][2][3], something nasty and drastic happened virtually overnight, around 1973. None of the growth since then has "trickled down". Our history books don't say anything about a radical overhaul of the economic system in 1973, nor does America have a massively different system than other first world capitalist countries, which do have inequality problems but not on the scale the US does. There's something uniquely bad going on, and since a very small group of people is getting enormously wealthy off of it while the rest get nothing at all, it's reasonable to assume that it's on purpose.
Incidentally another thing happened around 1973 - the incarceration rate began a meteroic rise[4] that did not abate until Obama's presidency. Connecting these facts is left as an exercise for the reader.
[1]https://stephenpruis.files.wordpress.com/2012/12/chart-wages-vs-productivity-1024x5811.png https://stephenpruis.files.wordpress.com/2012/12/chart-wages...
[2]http://www.mybudget360.com/wp-content/uploads/2013/07/us-debt-and-gdp.png http://www.mybudget360.com/wp-content/uploads/2013/07/us-deb...
[3]https://upload.wikimedia.org/wikipedia/commons/d/d7/2008_Top1percentUSA.png https://upload.wikimedia.org/wikipedia/commons/d/d7/2008_Top...
[4]https://www.lexisnexis.com/legalnewsroom/cfs-file.ashx/__key/communityserver-blogs-components-weblogfiles/00-00-00-01-03/5826.2015-03_2D00_12-Ballman.png https://www.lexisnexis.com/legalnewsroom/cfs-file.ashx/__key...
- gazzar 8y agoHoly st. Unless these graphs are misleading somehow, it's indeed interesting.
- trimbo 8y ago> Our history books don't say anything about a radical overhaul of the economic system in 1973 They don't? https://en.wikipedia.org/wiki/Nixon_shock https://en.wikipedia.org/wiki/Nixon_shock
- dTal 8y agoI hadn't heard of that. While I don't see an obvious causal link, the timing is certainly somewhat suggestive.