I've heard it said that in policy terms, people tend to always suggest the solutions to the problems they had when they were young. In this case, for a long, l

I've heard it said that in policy terms, people tend to always suggest the solutions to the problems they had when they were young. In this case, for a long, long time, well into my adulthood now, we've had policy made by people for whom the Grand Crisis to be solved was the stagflation of the '70s. For my generation, that Grand Crisis is the Great Recession and the rise of the nationalist alt-right. For the present problems of overly high inequality and falling productivity, indeed, the correct solutions probably run opposite to the "solutions" to the '70s stagflation crisis (wage repression and deflationary monetary policy).