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There are so many things that have changed from the 1950's until now and coincided with wealth inequality -- obviously, not all of them are causal, and many of
by lend000 6y ago
There are so many things that have changed from the 1950's until now and coincided with wealth inequality -- obviously, not all of them are causal, and many of them are only partially so, so they need to do a better job of describing cause and effect mechanisms. That isn't to say that pointing out correlations is useless.
For example, my pet theory on wealth inequality is that it is largely attributable to the rise of the "investor class" after Bretton Woods was invalidated and your average mom and pop could no longer grow, or even maintain their wealth by simply saving cash [0][1].
[0] https://www.pewsocialtrends.org/2020/01/09/trends-in-income-and-wealth-inequality/ https://www.pewsocialtrends.org/2020/01/09/trends-in-income-...
[1] https://en.wikipedia.org/wiki/Nixon_shock https://en.wikipedia.org/wiki/Nixon_shock