As I understand it, it’s the effect of a number of policy decisions intended in the surface to stabilize the economy. They stopped approving minimum wage hikes, they accepted a higher rate of unemployment due to factory automation, etc. Also, the difference between worker and executive compensation has grown tremendously.
someone remind me what happened in the 70s
I can only answer your question with a question: https://wtfhappenedin1971.com/
It’s crazy seeing how old the graphs on that site are now.
As I understand it, it’s the effect of a number of policy decisions intended in the surface to stabilize the economy. They stopped approving minimum wage hikes, they accepted a higher rate of unemployment due to factory automation, etc. Also, the difference between worker and executive compensation has grown tremendously.