The Trillion Dollare Money Pump for the 1%

[MisterP]

34. the early 70s saw 1) the oil slump turn into stagflation; on top of that 2) the ecologists and women

and Counterculture were questioning the whole "everyone will be happy with perpetually increasing production and chemical suburbs" thing

Reaganomics was invented to take advantage of the first aspect, by proclaiming that any intervention or high wage share for workers "had failed conclusively" and was thus slashed

the second aspect had a complex response: one wing was a revindication of expertise: the whitecoats know what they're doing, and if you don't believe that you're a tarot-snappin' creationist; the second wing was the Hayekites/Sowellites saying "only intervention can cause monopoly and all this other bad stuff": RW-libertarians are a blatant astroturf designed to hit all the right Countercultural buzzwords in service to the Kochs and Mellons while pretending to be all heretical

there's also ethnic tensions thrown in the mix