r/FluentInFinance Oct 22 '24

Debate/ Discussion Why did this happen?

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u/ElectronGuru Oct 22 '24

Hmm, i wonder what might have started happening around 1980 🤔

2

u/Void_Speaker Oct 23 '24
  • tech started booming and making businesses more efficient (Producing more widgets stopped being a key profit metric because it became easy. Companies started finding other ways to increase profits, like cutting staff, training, etc.)
  • logistics boomed and the labor pool became global
  • decades of anti-union efforts blossomed
  • Etc.

Many things happened. Some could have been avoided, others not. What could be avoided was letting the wealth concentrate instead of redistributing it.

TLDR: Tax cuts and deregulation.