« First « Previous Comments 41 - 47 of 47 Search these comments
You must be on your computer quite a bit to be this responsive.
Unless it truly is your job to shill for the Leftist oligarchs...
Second, there was a need for immigration more back then compared to now. Think about the debt and tax revenue trends in California, particularly the influx of net-takers compared to the costs for pensions and salaries of Californian government employees (i.e., school teachers, social workers, police, etc.). Those current trends nowhere existed in the past when there was a major influx of European immigrants.
Third, there is more of a cultural domination of one group (i.e, spanish speaking) compared to more of a melting pot and diverse mix back to the period you are referencing. Examine the education pursuits and ambitions of today's group to the past's group, for example. Or examine the living conditions or standard of living as well.
You mean in the 50s and 60s a man with a factory job could own a house, TV, car, pension, etc. with a stay at home wife as whole new industries were created regularly, with patents up the ass, with everything from microwaves to color tv to transcontinental commercial air and spaceflight?
That was evil Modernist White Protestant America.
And I bet most young liberals don't know that all that came from military industrial complex. They aren't old enough to know, and don't educate themselves enough to learn a damn thing.
Mindless clueless people with their faces buried in little screens oblivious to the world around them
« First « Previous Comments 41 - 47 of 47 Search these comments
I was struggling with explanation (what happened in mid-1970's) and I am still not sure. One potential explanation is in this link:
https://www.tbwns.com/2019/02/18/the-bears-lair-ben-bernanke-killed-the-world-economy/#more-1601
The paper,“Low interest rates, market power and productivity growth” by Ernest Liu, Atif Mian and Amir Sufi, examines the behavior of firms in a competitive marketplace as interests decline, and demonstrates that, although lower interest rates at first increase competitiveness through increased investment, they also increase the comparative advantage of large firms, thus after a time discouraging the smaller firms from investing and making the market less competitive.
Small firms lose out competition to large, well-connected ones under low-interest rate environment. Does not explain everything (interest rates were high during early Reagan years), but perhaps they play a role. I would love to hear thoughts of other Patnetters. For record, this income vs productivity gap has increased through both R and D administrations. More regulations?