The problem was neoliberalism/conservatism, which systematically removed all the labor and wealth redistribution policies of the post WW2 era, at the same time as boomers AND women were entering the workforce — higher supply of workers = lower demand and wages — the EU and Japan were rebuilt and competitive, offshoring and automation was gearing up (wage suppression + higher profits for capitalism), the deregulation of financial markets and regulatory/financial capture of government that enabled extreme financial predation, etc, etc.

The gold standard change would be irrelevant if we didn't live in oligarchies masquerading as democracies — where your level of wealth is directly proportional to your level of freedom, speech, and political representation.

[–] [email protected] 8 points 5 months ago

I agree, yes, the gold standard sucks. My intention was not really to perpetuate that in any way.

Everything you said is just chefs kiss.

"(wage suppression + higher profits for capitalism)" = they stole prosperity from us.

[–] [email protected] 4 points 5 months ago* (last edited 5 months ago) (1 children)

While topically interesting, a lot of those graphs are either saying the same thing or are misinterpreting an exponential.

[–] [email protected] 4 points 5 months ago (2 children)

Yup this is left wing pseudo science instead of right wing pseudo science. These are just some graphs that don't prove anything without a scientific paper to back it up.

[–] [email protected] 5 points 5 months ago (1 children)

Well what you’re calling left wing psudoscience is an article by Economic Policy Institute: https://www.epi.org/publication/charting-wage-stagnation/

They explain their methodology and data sources in meticilous detail, even more so in their report on how they do; https://www.epi.org/publication/understanding-the-historic-divergence-between-productivity-and-a-typical-workers-pay-why-it-matters-and-why-its-real/

If that’s not enough here’s some more stuff:

https://academic.oup.com/qje/article/135/2/645/572126

https://www.imf.org/external/pubs/ft/wp/2008/wp08185.pdf

[–] [email protected] 2 points 5 months ago (1 children)

I never said it was incorrect but I'm just trying to say that some graphs with some arrows don't prove anything. Thanks for sharing actual factual information.

[–] [email protected] 1 points 5 months ago

Agreed. Much love ❤️

[–] [email protected] 3 points 5 months ago

"pseudo science"

It's a website with "wtf" in its name, chill. It just shows the degradation of purchase power firstly as a consequence of the 70s oil crisis, and then as a consequence of increased neoliberalism.