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A comment on If pay had kept pace with productivity gains, minimum wage would be $24 an hour. Parent comment
There were a few potential inflection points / events that happened around then.
1971 saw the perhaps ill-considered abandonment of Bretton Woods - arguably this ineluctably led to an ongoing boom / bust cycle.
(Can recommend John Ralston Saul's discussion around this in his book 'The Collapse of Globalism'.)
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There were a few potential inflection points / events that happened around then.
1971 saw the perhaps ill-considered abandonment of Bretton Woods - arguably this ineluctably led to an ongoing boom / bust cycle.
(Can recommend John Ralston Saul's discussion around this in his book 'The Collapse of Globalism'.)