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Wounded Bear

(58,641 posts)

5. From the 40's to the 70's, the economy basically boomed...

Reply to Imallin4Joe (Original post)

Thu May 13, 2021, 06:00 PM

May 2021

the business cycle hiccuped every 5 years or so, but for the most part it was a period of steady growth in the middle class.

One thing that happened back then? Regular increases in the minimum wage. Since Reagan, increases have happened maybe every 5 years or so, and none since about 2009, IIRC.

Coincidence? Yeah, sure.

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5 replies

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Highlight:

Higher nationwide wages and/or a living wage can create a recession-proof economy.. [View all] Imallin4Joe May 2021 OP

Bump. Imallin4Joe May 2021 #1

90% isn't accurate, but whatever it is, it's KPN May 2021 #2

Testify! Damn fine reply. Imallin4Joe May 2021 #3

.... KPN May 2021 #4

From the 40's to the 70's, the economy basically boomed... Wounded Bear May 2021 #5