5 ms·

It's a nice description, but what was the wealth distribution in the 1920s in USA?

• NeedMoreTea 7y ago
  Probably fairly similar to now, considering it was the end of the period of attempts at reform after the Gilded Age. Reform that often deliberately avoided the problem and made it worse, and noted now as the period when the number with extreme wealth sky rocketed. Again like today the extremely wealthy were distorting the agenda via targeted philanthropy. We talk now of billionaires, they of millionaires, when a million was still a huge amount. Makes it very analogous to the scene after 2008, and the attempts at "fixing" the 08 banking crisis economy by not fixing the system but treating the symptom, or even climate change response. The 1920s wealth distribution and economy was structured to set the scene perfectly for the great 1929 crash and great depression. It remains to be seen how closely we track those... It took a global depression and the two decades leading through WW2 to fix. 1945 on was a very different era. And we forgot - or deliberately threw out - every single lesson and regulation.