General Discussion
In reply to the discussion: To those DU'ers who lived through the "Golden Age of Capitalism" (1940s to 1970s)-some questions... [View all]HereSince1628
(36,063 posts)There was much pent-up demand...~4 years of rationing and diversion of production into war goods that were preceded by lean consumption of the depression. People needed EVERYTHING.
North America was the go to place for manufactured goods...much of Europe and east Asia were devastated by war.
The baby-boom created demand in EVERYTHING... and booms in food-ag products, clothing, education, energy, housing, medical care, transportation.
Advances in technology created demand for new universal services...electricity, supply chain logistics, telephone, telegraph, and deeper options for transportation.
It was an expansion ideally suited for ponzi-scheme style of American capitalism.
America IS NOT expanding the same way. The ponzi-scheme style of American capitalism can't continure to produce greater and greater profits.
Now, in a stalled economy similar profits for capitalists/investors can only be made by cutting American workers out of much of the equation.