this post was submitted on 28 Apr 2024
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A Boring Dystopia

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WTF Happened In 1971? (wtfhappenedin1971.com)
submitted 6 months ago* (last edited 6 months ago) by jaxiiruff@lemmy.zip to c/aboringdystopia@lemmy.world
 

(kinda) A great website to share if you have no idea how to explain the downfall of the US economy.

Edit: Thanks to everyone who provided insight on this website. I've had this in my bookmarks for a very long time and was curious how it held up.

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[–] Krono@lemmy.today 1 points 6 months ago

Leftists: its deregulation and reagan and the destruction of labor unions and forever wars and wall street and the death of manufacturing and and and

Libertarians: "GOLD!"

[–] Blue_Morpho@lemmy.world 1 points 6 months ago* (last edited 6 months ago)

While there is no doubt that the Nixon shock and gold standard had huge effects in 1971, that website pushes a goldbug agenda that isn't supported by other sources.

For example the labor productivity gap didn't start until after 1979. Which is no surprise given that 1980 was the start of Reagan pushing his trickle down economics.

https://www.epi.org/productivity-pay-gap/

[–] arin@lemmy.world 0 points 6 months ago (1 children)

At the end it's the big rise in seed oil consumption... Interesting, also WTF the insane rise in health admin staff

[–] rc_buggy@sh.itjust.works 1 points 6 months ago

HMOs

The bane of actual healthcare brought to you by Nixon and his buddy Kaiser