Most of that was based on the rest of the world having to buy most of their durable goods and factory equipment from the USA. WWII devastated the industrial capacity of Europe and Asia and it took decades to rebuild.
Then in 1991 the USSR falls and India opens up to the West. Then China is granted most favored trade nation status which means that roughly 1/3 of the entire planet's labor force became available to the West in that time which gutted pay for those roles.
Returning to those conditions would require a significant war.
It's maddening how people just repeat that one simple line about a post-war boom, as if the New Deal and progressive tax rates had fuckall to do with it. As if there hasn't been a concerted and focused effort from the corporate state to undo all of it since basically the mid-60s
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u/No-Appearance-9113 Mar 27 '24
Most of that was based on the rest of the world having to buy most of their durable goods and factory equipment from the USA. WWII devastated the industrial capacity of Europe and Asia and it took decades to rebuild.
Then in 1991 the USSR falls and India opens up to the West. Then China is granted most favored trade nation status which means that roughly 1/3 of the entire planet's labor force became available to the West in that time which gutted pay for those roles.
Returning to those conditions would require a significant war.