Earlier quoted context omitted.
I don't really get this line of thinking, it just seems like a denial of globalization, automation, and economics. Instead of helping the workers it more seeks to punish American capitalists--including all the people like me who hope to retire in the future with investments that grow. When the rest of the world is developed enough that a union could span the entire globe, then this would at least be logical again. As…
> I don't really get this line of thinking, it just seems like a denial of globalization, automation, and economics. So what is the qualitative change in these three factors that changed so much in your opinion? Globalization was important for the US from its very inception (example: European price and production developments where a big factor in the Panic of 1819[1]). And productivity growth has been more or less c…
Unions are fascinating, honestly I am surprised that the era in which they were strong ever existed so early in history. They rely on having a monopoly on labor or at least a large percentage of it but with modern transportation the size of the labor pool is just too large and too poor for a relatively small, wealthy nation like the US to organize it.
If I had to point to seminal events causing the change, they would be construction of the Suez and Panama Canal, MacArthur's reconstruction of Japan, and Nixon opening trade with China. This last one could be the reason we are all still alive today, but clearly the American middle and lower class have born the brunt of the costs relative to where we all were after WWII.
Btw thanks for the discussion. Has been a while since I read about panic of 1819! I also blame the aspects of Keynesian economics that do not constrain the growth of government debt for increasing the power of existing wealth relative to the working class, but I admit that is a more questionable opinion.