Employers Used to Believe in the Power of Aggregate Demand, What Happened? (w/guest Rick Wartzman)

[thomhartmann]

Thom speaks with guest Rick Wartzman (Author - The End of Loyalty: The Rise and Fall of Good Jobs in America, Director - KH Moon Center for a Functioning Society, Drucker Institute, Claremont University, and Contributor - Fortune Magazine) about what caused the widespread prosperity in post war American, where it went, and who took it away.

[sandensea]

1. The answer came from Citibank itself

When, in their Plutonomy Memo made infamous by Michael Moore in Capitalism: A Love Story, they flat out explained that plutocrats "no longer depend on the population at large to generate their wealth" and that, accordingly, "the multitudinous many" (including mere millionaires) are to be "cut adrift."

[lostnfound]

3. I wish i could recommend this post. Nt

[sandensea]

4. Why, thank you.

And I wish certain people's egos weren't so monstrous that they feel everyone else deserves to be "cut adrift." But such is the world.

[Warpy]

2. They thought emerging markets could allow them to dispense with it

Besides "everybody knew" that inflation was the result of greedy workers getting paid more than their fair share thanks to unions.

I remember it all to well, "WIN" buttons and all.