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You’d have economic prosperity like in the USA between 1945 and 1970.
by User23 6y ago
You’d have economic prosperity like in the USA between 1945 and 1970.
- danesparza 6y agoSpoiler alert!
- klipt 6y agoWasn't that the result of a unique world order where the USA was the only industrialized country not recovering from huge war damage? Doesn't seem like something you could replicate worldwide. Not all countries can be winners all the time.
- boh 6y agoHighly unlikely. Productivity growth engendered higher incomes, not the other way around. The 70's is when that growth came to an end.
- User23 6y agoUp until about 1970 workers wages and productivity grew equally, but then while productivity continued growing at the same rate it had been, inflation adjusted real wages plateaued and haven’t much risen since.[1] [1] https://www.epi.org/publication/charting-wage-stagnation/ https://www.epi.org/publication/charting-wage-stagnation/ (see figure 2)