5 ms·

> control they've lost over the last couple of years Compared to compensation vs. productivity over the last half-century, employers should expect further push

> control they've lost over the last couple of years Compared to compensation vs. productivity over the last half-century, employers should expect further pushback. https://wtfhappenedin1971.com/ https://wtfhappenedin1971.com/

Schroedingersat 4y ago
> https://wtfhappenedin1971.com/ https://wtfhappenedin1971.com/ Ooh, I know this one. Nixon came up with a new strategy for jailing and enslaving opponents to conservatism and corporatism https://en.m.wikipedia.org/wiki/War_on_drugs https://en.m.wikipedia.org/wiki/War_on_drugs It was also about when thatcher first had a cabinet seat. After that we had the end of history and the glory of the invisible hand of the free market raining abundance upon all.
- danuker 4y ago
  I believe your perception is accurate. Nixon also took the dollar off the gold standard "temporarily", and government proceeded to debase the currency continuously since then, hand in hand with the financial sector.
  - Schroedingersat 4y ago
    Probably best to be a bit wary of pushing narratives from a group that say the problem is there's too gosh darned much public control over things and we need to deregulate and transfer more power to the financial sector without a caveat then.
tyingq 4y ago
It's not accepted as fact, but an interesting theory on "WTF happened in 1971" was the "Legislative Reorganization Act of 1970" and how it made many actions, votes, etc, of the US congress more transparent. The idea being that lobbyists were paying for certain types of votes when they were private, but that politicians could then vote their conscience anyway...because there was no way for a lobbyist to verify they got the vote they paid for. But, once the specific vote by named representative became public record, the lobbyists could now see if they got the vote they paid for.
- marcosdumay 4y ago
  The idea of politicians voting based on their conscience is so alien to me. Do people have any evidence they ever had any?
  - tyingq 4y ago
    I think there's a fair amount that do so in their freshman run. But it's a road that probably leads to getting voted out after the opposition gets money from the big groups you piss off by doing so.
    - asdff 4y ago
      I don't think you'd get the money together necessary to get your freshman run even off the ground without at least some kowtowing of the line of the major donors for your party. The nature of campaigning imo makes pretty much all politicians more beholden to money than to their constituents. Its expensive business, and if you decide not to play the game, you just end up smacked.
SuoDuanDao 4y ago
One theory I subscribe to is that 1971 is when the US hit peak oil production. By that metric, the Covid boost to real wages could be the aberration.
- gruez 4y ago
  >One theory I subscribe to is that 1971 is when the US hit peak oil production except now thanks to shale oil/fracking, we're actually producing more oil today than in 1971[1]. Why haven't we seen a reversion back to the good ol days? [1] https://www.eia.gov/todayinenergy/detail.php?id=43015 https://www.eia.gov/todayinenergy/detail.php?id=43015
  - marcosdumay 4y ago
    If the GP has the correct answer, it would be because the cost of producing the current US oil is much higher than the cost of the 1971 oil. Anyway, the OPEC started to control the oil price in 1971 too, didn't it?
    - gruez 4y ago
      >If the GP has the correct answer, it would be because the cost of producing the current US oil is much higher than the cost of the 1971 oil. Inflation adjusted oil prices were actually pretty close to pre-1971 oil prices between 1986 up until 2004. If the oil price theory was true, shouldn't we have seen a reversal in the trend during that time period? https://imageio.forbes.com/specials-images/imageserve/624487fa5d5a75b6784ab6ab/Graph-shows-current-price-level-reached-in-late-1970s/960x0.jpg?format=jpg&width=960 https://imageio.forbes.com/specials-images/imageserve/624487...
      - marcosdumay 4y ago
        By "pretty close" you mean with a clear and very significant increase on the average (more than doubled, if you discard all the high points), higher peaks, and more volatility?
  - 4y ago
rexreed 4y ago
Actually a lot of today's realities can be traced curiously back to 1971 or the year before or after that. Consider the following: * End of Bretton Woods System - "On 15 August 1971, the United States terminated convertibility of the US dollar to gold, effectively bringing the Bretton Woods system to an end and rendering the dollar a fiat currency" [0] * The Global War on Drugs - "The initiative includes a set of drug policies that are intended to discourage the production, distribution, and consumption of psychoactive drugs that the participating governments and the United Nations have made illegal. The term was popularized by the media shortly after a press conference given on June 18, 1971" [1] * Nixon's Southern Strategy that shifted the Republican base to the South 1970-1971 [2] * Nixon' Visit to China and the Chinese economic reform, which resulted in China being the major economic power it is today, visit planned on July 15, 1971, visit in early 1972 [3] * The Defunding of the Apollo program - "In August 1971, just after conclusion of the Apollo 15 mission, President Richard Nixon proposed canceling the two remaining lunar landing missions, Apollo 16 and 17." The two remaining already planned missions were completed, but the program ended in 1972 thereafter. [4] Now you might say, correctly, that every presidential term has major, world-shifting elements that are consequential. However, something happened specifically in 1971 and 1972 across a very broad set of circumstances to global economics, trade policy, criminalization, space race, politics, and more, not to mention the Watergate affair which was during the 1972 campaign. These years were absolutely pivotal to where we are today. Further follow-on actions to the above included the devaluing of the dollar in 1972, vetoing of US National Child-care (1972), continuation of the Vietnam war, Phase I and Phase II price freezes for wages and costs (1971, 1972), Economic Stablization Act of 1971[5], Revenue Act of 1971 [6], and more. 1971 was a hot year indeed. [0] https://en.wikipedia.org/wiki/Bretton_Woods_system https://en.wikipedia.org/wiki/Bretton_Woods_system [1] https://en.wikipedia.org/wiki/War_on_drugs https://en.wikipedia.org/wiki/War_on_drugs [2] https://en.wikipedia.org/wiki/Southern_strategy https://en.wikipedia.org/wiki/Southern_strategy [3] https://en.wikipedia.org/wiki/1972_visit_by_Richard_Nixon_to_China https://en.wikipedia.org/wiki/1972_visit_by_Richard_Nixon_to... [4] https://en.wikipedia.org/wiki/Apollo_program https://en.wikipedia.org/wiki/Apollo_program [5] https://en.wikipedia.org/wiki/Economic_Stabilization_Act_of_1970 https://en.wikipedia.org/wiki/Economic_Stabilization_Act_of_... [6] https://en.wikipedia.org/wiki/Revenue_Act_of_1971 https://en.wikipedia.org/wiki/Revenue_Act_of_1971

Schroedingersat 4y ago

> https://wtfhappenedin1971.com/ https://wtfhappenedin1971.com/ Ooh, I know this one. Nixon came up with a new strategy for jailing and enslaving opponents to conservatism and corporatism https://en.m.wikipedia.org/wiki/War_on_drugs https://en.m.wikipedia.org/wiki/War_on_drugs It was also about when thatcher first had a cabinet seat. After that we had the end of history and the glory of the invisible hand of the free market raining abundance upon all.

danuker 4y ago
I believe your perception is accurate. Nixon also took the dollar off the gold standard "temporarily", and government proceeded to debase the currency continuously since then, hand in hand with the financial sector.
- Schroedingersat 4y ago
  Probably best to be a bit wary of pushing narratives from a group that say the problem is there's too gosh darned much public control over things and we need to deregulate and transfer more power to the financial sector without a caveat then.

tyingq 4y ago

It's not accepted as fact, but an interesting theory on "WTF happened in 1971" was the "Legislative Reorganization Act of 1970" and how it made many actions, votes, etc, of the US congress more transparent. The idea being that lobbyists were paying for certain types of votes when they were private, but that politicians could then vote their conscience anyway...because there was no way for a lobbyist to verify they got the vote they paid for. But, once the specific vote by named representative became public record, the lobbyists could now see if they got the vote they paid for.

marcosdumay 4y ago
The idea of politicians voting based on their conscience is so alien to me. Do people have any evidence they ever had any?
- tyingq 4y ago
  I think there's a fair amount that do so in their freshman run. But it's a road that probably leads to getting voted out after the opposition gets money from the big groups you piss off by doing so.
  - asdff 4y ago
    I don't think you'd get the money together necessary to get your freshman run even off the ground without at least some kowtowing of the line of the major donors for your party. The nature of campaigning imo makes pretty much all politicians more beholden to money than to their constituents. Its expensive business, and if you decide not to play the game, you just end up smacked.

SuoDuanDao 4y ago

One theory I subscribe to is that 1971 is when the US hit peak oil production. By that metric, the Covid boost to real wages could be the aberration.

gruez 4y ago
>One theory I subscribe to is that 1971 is when the US hit peak oil production except now thanks to shale oil/fracking, we're actually producing more oil today than in 1971[1]. Why haven't we seen a reversion back to the good ol days? [1] https://www.eia.gov/todayinenergy/detail.php?id=43015 https://www.eia.gov/todayinenergy/detail.php?id=43015
- marcosdumay 4y ago
  If the GP has the correct answer, it would be because the cost of producing the current US oil is much higher than the cost of the 1971 oil. Anyway, the OPEC started to control the oil price in 1971 too, didn't it?
  - gruez 4y ago
    >If the GP has the correct answer, it would be because the cost of producing the current US oil is much higher than the cost of the 1971 oil. Inflation adjusted oil prices were actually pretty close to pre-1971 oil prices between 1986 up until 2004. If the oil price theory was true, shouldn't we have seen a reversal in the trend during that time period? https://imageio.forbes.com/specials-images/imageserve/624487fa5d5a75b6784ab6ab/Graph-shows-current-price-level-reached-in-late-1970s/960x0.jpg?format=jpg&width=960 https://imageio.forbes.com/specials-images/imageserve/624487...
    - marcosdumay 4y ago
      By "pretty close" you mean with a clear and very significant increase on the average (more than doubled, if you discard all the high points), higher peaks, and more volatility?
- 4y ago

rexreed 4y ago

Actually a lot of today's realities can be traced curiously back to 1971 or the year before or after that. Consider the following: * End of Bretton Woods System - "On 15 August 1971, the United States terminated convertibility of the US dollar to gold, effectively bringing the Bretton Woods system to an end and rendering the dollar a fiat currency" [0] * The Global War on Drugs - "The initiative includes a set of drug policies that are intended to discourage the production, distribution, and consumption of psychoactive drugs that the participating governments and the United Nations have made illegal. The term was popularized by the media shortly after a press conference given on June 18, 1971" [1] * Nixon's Southern Strategy that shifted the Republican base to the South 1970-1971 [2] * Nixon' Visit to China and the Chinese economic reform, which resulted in China being the major economic power it is today, visit planned on July 15, 1971, visit in early 1972 [3] * The Defunding of the Apollo program - "In August 1971, just after conclusion of the Apollo 15 mission, President Richard Nixon proposed canceling the two remaining lunar landing missions, Apollo 16 and 17." The two remaining already planned missions were completed, but the program ended in 1972 thereafter. [4] Now you might say, correctly, that every presidential term has major, world-shifting elements that are consequential. However, something happened specifically in 1971 and 1972 across a very broad set of circumstances to global economics, trade policy, criminalization, space race, politics, and more, not to mention the Watergate affair which was during the 1972 campaign. These years were absolutely pivotal to where we are today. Further follow-on actions to the above included the devaluing of the dollar in 1972, vetoing of US National Child-care (1972), continuation of the Vietnam war, Phase I and Phase II price freezes for wages and costs (1971, 1972), Economic Stablization Act of 1971[5], Revenue Act of 1971 [6], and more. 1971 was a hot year indeed. [0] https://en.wikipedia.org/wiki/Bretton_Woods_system https://en.wikipedia.org/wiki/Bretton_Woods_system [1] https://en.wikipedia.org/wiki/War_on_drugs https://en.wikipedia.org/wiki/War_on_drugs [2] https://en.wikipedia.org/wiki/Southern_strategy https://en.wikipedia.org/wiki/Southern_strategy [3] https://en.wikipedia.org/wiki/1972_visit_by_Richard_Nixon_to_China https://en.wikipedia.org/wiki/1972_visit_by_Richard_Nixon_to... [4] https://en.wikipedia.org/wiki/Apollo_program https://en.wikipedia.org/wiki/Apollo_program [5] https://en.wikipedia.org/wiki/Economic_Stabilization_Act_of_1970 https://en.wikipedia.org/wiki/Economic_Stabilization_Act_of_... [6] https://en.wikipedia.org/wiki/Revenue_Act_of_1971 https://en.wikipedia.org/wiki/Revenue_Act_of_1971