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]many a good man
(6,007 posts)Probably the most striking difference between then and now IMO was the point aristocles mentioned earlier. On my suburban block we had doctors, lawyers, businessmen, milk truck drivers, airplane washers, janitors, etc. all living together. Income inequality was much less in those times, at least for the white majority.
Establishment attempts to sweep the darker side of America under the rug did not succeed so many of us continued fighting for greater and greater social and economic justice.
Tax policy, union busting and global labor arbitrage all conspired to widen the income gap. Technology and media also splintered us apart. Magazines catering to niche interests appeared and soon hundreds of television channels led to narrowed focus and less common vision. Greed enabled some to amass large fortunes and the tax system fed the greed of the top 5-10%. Price gouging ensued along with declining wages and outsourcing. If we don't stop runaway greed and carnivorous capitalism we will soon have a serious social upheaval on our hands.