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A comment on The desperate hustle as a way of life. Parent comment

Re:The desperate hustle as a way of life by coldtea on Sunday April 27, 2014 @09:59AM (#7655066)
>The argument has an emotional resonance, but does it really make sense? It's not like working for big employers (and entrusting Wall Street with one's retirement) worked out really well in the past decade either.

No, but it worked very well the last time the US middle class mattered, back in the 40's to 60's.

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Re:The desperate hustle as a way of life by dredmorbius on Sunday April 27, 2014 @11:02PM (#7658021)
Note that the relationship at the time was between firms and Wall Street brokers and traders mediated via pensions, rather than individuals. Firms and unions will have more leverage.

The present personal investment model (401k and similar) will, I suspect, be seen as one of the larger financial mis-steps of 20th century economic history. Its emergence itself was largely accidental.

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