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Thank you! I found that very enlightening, regarding systemic thinking about the American economy, especially this paragraph: > How did we get here? Our analys
by neolefty 8y ago
Thank you! I found that very enlightening, regarding systemic thinking about the American economy, especially this paragraph:
> How did we get here? Our analysis shows there have been two major regimes since 1960. Before 1980 too much money was being injected into the Labor loop. Consumers had more demand than investors could supply, and inflation was on the rise. After 1980, we entered a new regime that favored investors. The change in regime was likely due to tax changes implemented during the Reagan presidency, cutting taxes on investments. We see that this change was a good idea, but it went too far and has remained in place for too long.
The big question then is how do we escape the capture of tax policy by investors who individually like being able to save but who collectively are extracting rent from consumers, at the cost of human development?