4 ms·

I read only the abstract and this is my response: https://wtfhappenedin1971.com/ https://wtfhappenedin1971.com/

• fallingknife 3y ago
  Historian Peter Turchin actually has an answer to that question: https://en.wikipedia.org/wiki/Peter_Turchin https://en.wikipedia.org/wiki/Peter_Turchin
  • maxboone 3y ago
    Do you mean this tweet? https://nitter.net/Peter_Turchin/status/1330581699512688641 https://nitter.net/Peter_Turchin/status/1330581699512688641
    • smitty1e 3y ago
      This reply: "In 1971 Nixon took the greenback off the gold standard; the USA began importing more oil than it produced domestically and Lewis Powell wrote his famous memo. If these aren't points of inflection I don't know what are." https://nitter.net/CrocodileChuck/status/1330625873326686208 https://nitter.net/CrocodileChuck/status/1330625873326686208 The bewilderment will continue so long as heads are lodged in sunless locations.
• Qem 3y ago
  Nice graphs. 1971 coincides approximately with the start of the era of stagnation[1] in Soviet Union, when the socialist block began stalling, until its dissolution in late 80s/early 90s. I think the elites of the capitalist block stopped sharing the productivity gains with workers the moment they felt Soviet Union was stalling, as the perceived threat of squeezed people sympathizing with socialism and kickstarting some revolution vanished. Capitalism, that has competition as one of its pillars, seemly started degrading when its sole competitor collapsed. [1] https://en.m.wikipedia.org/wiki/Era_of_Stagnation https://en.m.wikipedia.org/wiki/Era_of_Stagnation
• maxboone 3y ago
  W.r.t. most of those graphs, the (rightfully so) collapse of Bretton Woods: https://en.m.wikipedia.org/wiki/Bretton_Woods_system https://en.m.wikipedia.org/wiki/Bretton_Woods_system