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Re:Minimum Wage Clock by beaeglebeached on Thursday January 04, 2024 @04:55PM (#38872827)
When the rich get rich via redistribution of value rather than generation of value, average richness rises after those rich are deposed.
Re:Minimum Wage Clock by oh_sigh on Thursday January 04, 2024 @05:18PM (#38873078)
What examples are there of that?
Re:Minimum Wage Clock by beaeglebeached on Thursday January 04, 2024 @05:26PM (#38873147)
As crazy as it sounds, the cuban revolution up until the late 80s. While their communist economic system was far from ideal, it saw significant rising GDP/cap vs the days when farm labor were like slaves and their output redistributed to petty farm masters under Batistas favored rich men.
Re:Minimum Wage Clock by wavemode on Thursday January 04, 2024 @09:17PM (#38874930)
Do you have a source for that? Most accounts I've read regarding that period talk about massive decreases in food production after the government took over those industries.
Re:Minimum Wage Clock by beaeglebeached on Thursday January 04, 2024 @10:16PM (#38875298)
tiny.cc/c0jsvz

They had a rough first 10 years breaking even vs GDP/c under Batista but there was rapid advancement after that until collapse of the Soviet Union.