4 ms·
the solutions are there, we implemented them in the post-war era, and they worked, massively reducing inequality until about the early to mid-1970s, where due t
by permo-w 4y ago
the solutions are there, we implemented them in the post-war era, and they worked, massively reducing inequality until about the early to mid-1970s, where due to a number of reasons, lots of Western economies slowed down, especially the UK and the US, and the free-market Milton-Friedman-inspired right got into power and more or less has been since then. their policies creating overall growth, yes, but at the expense of wage growth and (after an initial bump from selling off public property) living standards.
as a related aside, if someone ever tells you that taxes are at an all-time high so we must reduce them, take a look at the top marginal tax rates in the UK and US in the mid-60s. or corp tax back then
the way to actually solve these problems was told to us by Keynes. the problem is that the political will is just not there. that's where we need a solution. how do you circumvent the capital-holding elite [to use a meaningless word]?
- grafly 4y ago