On Wed, Nov 13, 2024 at 01:09 PM, Michael Meeropol wrote: > > the jury is out on the situation for the working class after 1973 ---- The > evidence from Piketty and Saez is that the distribution of income became > more equal over the course of the 1970s ---- many date the turn away from > working class prosperity from about 1977 others from about 1980 ----
Well, income distribution can become more equal in different ways, including a disproportionate percentage decline in the income of the rich during a famine of profits and hence dividends and capital gains. The fact remains that workers' real median weekly earnings peaked forever in 1973. Just as telling, the last major economic reform for the working class was Medicare (1965). Arguably, you could include the Nader reforms under Nixon in the early '70s: OSHA and consumer protections. Since then, struggle overall has been not to gain more but to keep what we have in Social Security and other social welfare programs. -=-=-=-=-=-=-=-=-=-=-=- Groups.io Links: You receive all messages sent to this group. View/Reply Online (#33569): https://groups.io/g/marxmail/message/33569 Mute This Topic: https://groups.io/mt/109543856/21656 -=-=- POSTING RULES & NOTES #1 YOU MUST clip all extraneous text when replying to a message. #2 This mail-list, like most, is publicly & permanently archived. #3 Subscribe and post under an alias if #2 is a concern. #4 Do not exceed five posts a day. -=-=- Group Owner: [email protected] Unsubscribe: https://groups.io/g/marxmail/leave/13617172/21656/1316126222/xyzzy [[email protected]] -=-=-=-=-=-=-=-=-=-=-=-
