3 ms·
The same inter-generational wealth logic would apply pre-1970s. I think that 1970 is used as a starting point because that's also when real wages started dropp
by metalchianti 8y ago
The same inter-generational wealth logic would apply pre-1970s.
I think that 1970 is used as a starting point because that's also when real wages started dropping relative to production output.
I'm don't think it's fair to blame US politics. I bet this is a universal phenomenon.
- marricks 8y agoYour argument is wealthy inequality has been rising universally since the birth of the USA? It’s not hard to find a chart and it was OK and exploded since the 70s, perhaps coincidentally with trickle down economics and neoliberalism. https://static-ssl.businessinsider.com/image/54610db56da811360c3cf8af-960-720/the-swings-in-inequality-over-the-twentieth-century-are-even-more-dramatic-when-looking-at-wealth-rather-than-income.jpg https://static-ssl.businessinsider.com/image/54610db56da8113...
- conanbatt 8y agoUsually economists are obsessed with the Reagan administration, its quite remarkable.