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The mid-20th century. For many reasons, which you can emphasise as you see fit: There was massive government involvement -- the wartime economy was not very Ad
by iguy 7y ago
The mid-20th century. For many reasons, which you can emphasise as you see fit:
There was massive government involvement -- the wartime economy was not very Adam Smith, starting with the fact that it could draft its labor. This also set the tone that a CEO's salary & benefits might be like a general's. But also many sectors were tolerated monopolies, or close, for decades. People got promoted up the ranks, rather than having bidding wars.
There was high social cohesion, carefully curated for the purpose of winning big wars, and helped by almost zero immigration for 4-5 decades. There were only a few TV stations and they pushed a wholesome christian vision.
The stage of technology was such that big factories could use all the semi-skilled labor they could get, and churn out products which improved everyone's standard of living. It helped that energy was cheap. And transport was expensive, so there was little foreign competition in most goods. And that the pension promises they signed in good years were mostly far from coming due.
- imgabe 7y agoThere was also the fact that the productive capacity of almost all of the industrialized world besides the US had been destroyed. China and the rest of Asia were mostly subsistence farmers, and China itself was undergoing a huge famine. It's unlikely we're going to see circumstances like that again. We have to figure out how to make things work with the world we have today, not try to return to some bygone era that was actually really horrible in a lot of ways for a lot of people.
- iguy 7y agoSure that too. And indeed, re-running WWII to try to solve our inequality problems would be a terrible idea. I just think it's worth trying to understand all the ways in which society and the world were different back then. In part so as not to be too easily seduced by anyone offering one of them in isolation as a solution.