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Yes, has largely to do with our shift from blue collar jobs I think (we are no longer producing housing/infrastructure/automobiles/etc at the rate we once were)
by gavanwoolery 12y ago
Yes, has largely to do with our shift from blue collar jobs I think (we are no longer producing housing/infrastructure/automobiles/etc at the rate we once were). We are seeing this growth in places like China and India where these jobs still dominate.
- majormajor 12y agoI don't follow. Companies like Apple and Microsoft, among others, were founded regardless of the US having a 70% top income tax rate; what's the connection between that and blue collar jobs?
- gavanwoolery 12y agoOh, I'm just saying that the 50s were "the glory days" because there was no shortage of jobs, relatively low inflation (IIRC?), high housing demand, etc. College degrees (up until maybe as late as the early 90s) used to guarantee you a good job, and student debt was far lower, and overall there are many factors that you can't necessarily correlate directly to economic policy (IMHO). A lot of our jobs are going overseas (but they are jobs we don't particularly want, I suppose). That goes as well for current economic policy I think - for example, we see a lot of growth in Silicon Valley even though California is no haven for businesses (albeit many of those get registered in Nevada).
- s73v3r 12y agoThe US is still the #1 or #2 manufacturer in the world. We regularly jockey with China for that.
- deleted 12y ago[deleted]