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UAW president “ I don't think billionaires should exist," he said. "No one needs that much money.” Login/Join 
vthoky
Member
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posted Hide Post
quote:
Originally posted by goose5:
I've heard this was a result of going off the gold standard. I've heard this was the time women in mass started into the workforce, and the wage pie shrank for everyone.


I've also heard these points made, in discussions with friends about the topic.



Politicians seem to have forgotten that they work for us, not the other way around.
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God bless America.
 
Posts: 15997 | Location: VA | Registered: July 15, 2007Reply With QuoteReport This Post
tatortodd
Drill Here, Drill Now
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quote:
Originally posted by goose5:
Something happened around 1973 that decoupled our wages from our productivity. As you can see wages before 1973 rose in concert with GDP. After it flatlined growing half as fast. I've heard this was a result of going off the gold standard. I've heard this was the time women in mass started into the workforce, and the wage pie shrank for everyone. I don't know what happened. I would entertain theories from the membership on this topic.
Besides what you list, 3 additional things happened about that time:
  • One of the biggest - The Greatest Generation were generally not very good parents {cue someone who doesn't understand what generally means}. Fathers left everything on battlefield, they were pretty detached at home, it was the first generation where minority of fathers and sons worked side by side, they gave the baby boomers everything on a silver platter (e.g. cars), etc. By the early 70s, their entitled baby boomer children were a huge demographic in the work force.
  • 1970s US Border Patrol encounters increased almost exponentially compared to the 1960s . The 60s averaged 69,271 and the 70s averaged 591,997. It set the stage for Reagan's ill-advised illegal immigration amnesty in '86. Don't get me wrong, I'm a big fan of the gipper but he signed two boneheaded pieces of legislation in '86 (NFA amendment and amnesty).
  • Nixon normalized relations with China and soon after Congress began year after year granting most favored nation trade status. Windolickers were horrible negotiators and it certainly wasn't bilateral. Dunces made it permanent in 2000.


    Ego is the anesthesia that deadens the pain of stupidity

    DISCLAIMER: These are the author's own personal views and do not represent the views of the author's employer.
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    Posts: 25522 | Location: Northern Suburbs of Houston | Registered: November 14, 2005Reply With QuoteReport This Post
    goose5
    Fourth line skater
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    This is one explanation of what has been going on in government and institutions since 1973. This is the EGO theory. Embedded Growth Obligation. When government can't reproduce the growth experienced after 1945 it becomes pathological in nature.

    https://theportal.wiki/wiki/Em...d_Growth_Obligations


    _________________________
    OH, Bonnie McMurray!
     
    Posts: 7809 | Location: Pueblo, CO | Registered: July 03, 2005Reply With QuoteReport This Post
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