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This is a popular secular trend that's very important to watch out for. You never know when's the next big rewiring of property relations, and it's foolish to t

This is a popular secular trend that's very important to watch out for. You never know when's the next big rewiring of property relations, and it's foolish to think it will not happen again. Suffice to say that "socialism" is no longer the dreaded name for failed economic policies of the past, it's a popular word with the young people. I'm not advocating for or against it, it's just a fact that there's some chance that it will happen. Declining labor share as a % of GDP is very real and very threatening (it does piss many people off, whether or not they know about this metric). "Distribution of Average Income Growth During Expansions" is quite scary too.

freehunter 7y ago
>"socialism" is no longer the dreaded name for failed economic policies of the past The only reason it ever was "the dreaded name for failed economic policies" is because of political lies conflating Communist Autocracy (USSR, China) with Social Democracy (basically all of Western Civilization) during the Cold War. Socialism has been, is, and will continue to be incredibly popular in America where the word is quite possible hated more than anywhere else. From The New Deal in the 30s (not many people would want to get rid of Social Security or interstate highways for example) to Wall Street and auto industry bailouts to today's oil and farm subsidies, socialism is incredibly popular among both the right and the left wing of US politics. Without the spectre of Soviet Russia and mutually assured destruction hanging over America's head, the boogeyman of "socialism = Stalin" is a lot harder to maintain.