Tuesday 16 December 2008
Too bad all the benefits of decades of US productivity and economic growth were squandered on the delusional and ideological excesses of the financial capitalists. Imagine what the world would be like to today if incomes grew in line with productivity as per the 50-60’s social contract. Per capita incomes would be twice what they are today and the savings of US citizens would be powering the world economic machine. Further, since the gain would have been broad-based, it’s extremely unlikely the concentrated excesses of Wall Street would have happened at all. John Robb ☀
