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1. Closing the gold window Inflation benefits those that can leverage dollar denominated debts against inflationary hedges. Wealthy people with assets undoubta

1. Closing the gold window Inflation benefits those that can leverage dollar denominated debts against inflationary hedges. Wealthy people with assets undoubtably can do this at a grand scale while the closest thing an average person can do is buy a house. 2. Outsourcing of manufacturing begins in earnest (combined with weakening of unions, the Clean Air and Water Acts, etc) Yes, and maybe slower globalization would have been better, but I personally am a free market all the way guy. 3. Computers really start taking over (obviously accelerates in the 80s) This is akin to making the `pie` that is the economy greater. It does does not explain why the wealthy gained most of the new growth of said `pie`. 4. Women started having real careers on a large scale I'm a bit torn on this as an argument. Women having careers should have increased the size of the economic `pie` and everyone should have been better off, but what seems to have happened is that competition between laborers became more intense and while the `pie` grew, the average person lost a significant portion of their share. I have yet to fully wrap my head around this one, but it seems like labor competition combined with corporate and or governmental control in a way that prevented the distribution of the increased productivity?

kube-system 5y ago
> 3. Computers really start taking over (obviously accelerates in the 80s) > This is akin to making the `pie` that is the economy greater. It does does not explain why the wealthy gained most of the new growth of said `pie`. Sure it does. The productivity gains from any tool are a direct monetary benefit to those who implement it. The pie is only subsequently redistributed if other market effects coerce the original beneficiary into doing so. Record-keepers, secretaries, etc, being laid off from their job obviously have no opportunity to negotiate for higher wages as a result of that productivity gain. The only people who were in a position to negotiate were the ones who could implement these new tools. And they did: tech jobs are well paid.

kube-system 5y ago

> 3. Computers really start taking over (obviously accelerates in the 80s) > This is akin to making the `pie` that is the economy greater. It does does not explain why the wealthy gained most of the new growth of said `pie`. Sure it does. The productivity gains from any tool are a direct monetary benefit to those who implement it. The pie is only subsequently redistributed if other market effects coerce the original beneficiary into doing so. Record-keepers, secretaries, etc, being laid off from their job obviously have no opportunity to negotiate for higher wages as a result of that productivity gain. The only people who were in a position to negotiate were the ones who could implement these new tools. And they did: tech jobs are well paid.