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The wealth is still in the US, though. It did not go to other countries.
by wozer 7y ago
The wealth is still in the US, though. It did not go to other countries.
- badpun 7y agoThis is about income, and not wealth. Most of these middle-class US families in the 50-ties through 80-ties that you mentioned had very little wealth, and only managed to build it up (via paying off mortgage, saving for retirement) over decades of work and solid income. Now, there's less opportunities for solid income in the US, as they've become more equally spread across the globe.
- Godel_unicode 7y agoIt's not the zero-sum game you're making it out to be. Also, those countries are all far better off now. https://www.cato.org/publications/policy-analysis/25-years-reforms-ex-communist-countries-fast-extensive-reforms-led https://www.cato.org/publications/policy-analysis/25-years-r...