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As far as wealth redistribution, we've had two great successes with this in the US. The first was the Homestead Act which helped many Americans escape poverty
by einhverfr 15y ago
As far as wealth redistribution, we've had two great successes with this in the US. The first was the Homestead Act which helped many Americans escape poverty in order to become smallholding farmers.
The second was WWII and the GI bill which constituted the greatest downward transfer of wealth in US history, and created the huge, stable, Middle Class that has survived well up until recently. The New Deal was at most just icing on the cake (and I think actually destructive to the overall trends). The wages of war, the draft, and the on-going benefits were where the real successes were.
- grandalf 15y agoThe homestead act I can agree with, but not WWII. At least, I don't think WWII really created structural improvements that wouldn't have happened on their own if we'd stayed at peace.
- einhverfr 15y agoI didn't say structural improvements. It just took a lot of money from the wealthy and paid it to people in exchange for military service. In other words, it set back the concentration of wealth, which is now continuing apace again.