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Prosperity of the 80s? You mean the era that signalled the end of the post-war golden age of capitalism and brought about hyper-financialisation (which led us t
by andrepd 4y ago
Prosperity of the 80s? You mean the era that signalled the end of the post-war golden age of capitalism and brought about hyper-financialisation (which led us to the 2008 catastrophe from which we still haven't recovered) and the decline of tax progressiveness and public services (which supercharged wealth inequality back to gilded age levels)?
Many of our current problems can be traced back to changes which occurred in the 70s and 80s.
Yes, prosperity on GDP numbers, blessed be Its name. Unfortunately not everything is reduced to making line go up.
- WalterBright 4y agoDecline of public services? Government social spending has increased enormously since the 80s. I'm amused you're blaming 2008 on Reagan.
- badpun 4y agoWhen you deregulate stuff, the catastrophic results usually don't come immediately. If they were to come immediately, it would be blatantly obvious to everyone that it's a bad idea, and hence deregulation wouldn't happen. So, in practice, most of deregulation happens in areas where it's good for short-term and bad/catastrophic for long-term.