09-05-2016, 12:44 AM
Here is the Daily Signal
Actually, a better question would be: when was America's economy working for everyone? Indeed. Exactly in the period that the US economy benefited from the reforms of the progressives and the taming of financial markets of the New Deal. The golden era 1950-1980.
When did it all start to fall apart?
![[Image: 191022-14685370227084525.png]](https://staticseekingalpha.a.ssl.fastly.net/uploads/2016/7/14/191022-14685370227084525.png)
![[Image: x95.gif.pagespeed.ic.8qpjsGtWHC.webp]](http://politicsthatwork.com/img/x95.gif.pagespeed.ic.8qpjsGtWHC.webp)
Indeed, from the 1980s onwards, the economy suffered from the right-wing counteroffensive, wages stagnated, the American Dream went up in smoke, and the gains went almost exclusively to the top, which got huge tax breaks as well.
And part of the right now blames this all on "stupid trade deals." There isn't really much evidence that trade is responsible for most of the middle class stagnation, as other countries which are at least as open to trade, if not more so didn't experience anywhere near the same wage stagnation, nor the inexorable rise in inequality nor are they seeing decreasing white middle class life expectancy.
Quote:How did America’s political and economic system change from limited government and capitalism early in our history, to the unlimited government and welfare statism of today? From about 1880 to the end of World War I, America went through a period of radical change. New political and economic principles were introduced by a group of academics, activists, and politicians known as progressives. Progressives proposed replacing the system of limited government, natural rights, and capitalism bequeathed to us by the Founders, with an unlimited government that closely regulates the economy and redistributes income.How a Progressive Educator Helped Create Big Government
Actually, a better question would be: when was America's economy working for everyone? Indeed. Exactly in the period that the US economy benefited from the reforms of the progressives and the taming of financial markets of the New Deal. The golden era 1950-1980.
When did it all start to fall apart?
Indeed, from the 1980s onwards, the economy suffered from the right-wing counteroffensive, wages stagnated, the American Dream went up in smoke, and the gains went almost exclusively to the top, which got huge tax breaks as well.
And part of the right now blames this all on "stupid trade deals." There isn't really much evidence that trade is responsible for most of the middle class stagnation, as other countries which are at least as open to trade, if not more so didn't experience anywhere near the same wage stagnation, nor the inexorable rise in inequality nor are they seeing decreasing white middle class life expectancy.