4 ms·
It's easy to create that model: just take a time machine (or history books) and copy the same wealth distribution of America a few decades ago, say in the 1940'
by opinali 14y ago
It's easy to create that model: just take a time machine (or history books) and copy the same wealth distribution of America a few decades ago, say in the 1940's-1960's. Also known as, the Golden Age of the American Middle Classes. I would settle for that.
But that was a time when the very rich had to pay up to 91% of income tax, and unions were everywhere preventing exploitation of middle-class jobs! OMG, the US was a Socialist country, thanks god we don't have this problem anymore!!
(Sarcasm aside, yes the world has changed and the exact same formula that worked in the fifties wouldn't work perfectly in the modern and globalized economy; still, in this case the present is so screwed up that even an imperfectly-fit clone of the past would work better)