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I think the USSR and the cold war was the main reason why unionization and middle class wages went up so sharply from 1930-1980.
Don't think find out. The Cold War had nothing to do with it. In the 1930s FDR implemented a 96% top tax rate. Even in the 1970s it was in the 70 percentage figures. Now the rich in the USA pay about 25-30%. There is the link.
Don't think find out. The Cold War had nothing to do with it. In the 1930s FDR implemented a 96% top tax rate. Even in the 1970s it was in the 70 percentage figures. Now the rich in the USA pay about 25-30%. There is the link.
ad hominem.
Of course he worked,. He produced the finest critique of capitalism ever. He was an economist. He never talked of socialism or communism and never wrote a book about it.
He wasn't an economist. He was a philosopher. But yeah, Marxian economics is a remarkable critique of capitalism. A lot of economists in the west dismiss heterodox schools for obvious reasons. Richard Wolff is the only known economist who's trained Marxian.
Who wants to work in hot factories? I wouldn't want to.
Our wages have been flat, but our buying power have increased substantially. Besides, wage stagnation ignores social mobility. Most Americans move up to a higher quintile they were born in.
Thats because children make parents poor.
The United states has some of the worst rates of moving between quintiles in the developed world.
Yes I know, people move between quintiles all the time. Thats because going from the bottom 20% to the next 20% is easy. heck getting into the top 20% isnt hard.
Thats because the VAST majority of the wealth is in the .1%
He wasn't an economist. He was a philosopher. But yeah, Marxian economics is a remarkable critique of capitalism. A lot of economists in the west dismiss heterodox schools for obvious reasons. Richard Wolff is the only known economist who's trained Marxian.
Economists, as a discipline, did not exist in those days. Marx wrote about economics. Most of his work is relevant today and he is now getting more and more attention.
Irrelevant to what? You don't think capitalist oligarchs were threatened by the communist variety?
You seem to prefer no reason at all. Except that FDR thought distributing wealth to the middle class was a good idea, and used his god-like powers to make it so until the 70s.
[quote=John-UK;40457841]Economists, as a discipline, did not exist in those days. Marx wrote about economics. Most of his work is relevant today and he is now getting more and more attention.
He wasn't an economist. He was a philosopher. But yeah, Marxian economics is a remarkable critique of capitalism. A lot of economists in the west dismiss heterodox schools for obvious reasons. Richard Wolff is the only known economist who's trained Marxian.
Neither was Adam Smith an economist. His only other major work is The Theory of Moral Sentiments, and no one talks about that one. Funny how one need not be a trained whatever in order to provide insight into whatever.
Not entirely in taxes if the money did indeed go to factories and jobs.
But taxes are not the prime reason for offshoring jobs. It is indeed mostly about labor costs. Why do you think Apple offshored in the 80's? 10 dollars an hour versus 25 cents a day labor costs.
As for the China to Europe reasoning, Apple could also build factories overseas to sell into those markets. No US taxes on foreign sales. The problem to America in terms of economic activity is exactly because they are manufacturing overseas to sell back to us, leaving displaced American worker who end up in a permanent underclass, and therefore cannot afford to buy Apple products. This is something well known today, and examined obliquely by Marx.
Last edited by chuckmann; 07-19-2015 at 01:19 AM..
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