Monday, February 27, 2023

A brief outline of recent economic history

  

Very Brief economic history focused on U.S.

This history adds context to the video; Inequality For All. 

 

1945- 1972.  Post war boom.  

             1964.  The Great Society 

1972- 1980.  Europe rebuilt.  EEC

                        Japan rebuilt.  Competition.

                        U.S. Faces Economic competition. 

                        Stagflation

1979.  Neoliberalism emerges

            Reagan for President.

            Era of deregulation

1982.   Savings and Loan Crisis

1989.   Soviet Union collapses

1994.   NAFTA passes.  Globalization as policy

            Russian economy collapses,   Neoliberalism moves into Eastern Europe.

            Rise of the computers and technology

            Financialization of the economy

2001.   China joins the World Trade Organization. ( globalization) 

            Unregulated finance.  Repeal of Glass-Steagal. 

            U.S. Housing bubble grows.

2002.   High tech economy crashes ( briefly) 

2007.   Housing bubble collapses  Mortgage Derivatives 

2008- 2012. The Great Recession.

            Banks Too Big to Fail, Homeowners allowed to fail.

2011.  Occupy Wall Street

            Two million homes forclosed 

            Homeless camps in Sacramento

2016.   Trump becomes President

2017.   Massive corporate tax cuts

2019    Covid shuts down the economy.

2021.  Recovery from covid.

 

See definition of neoliberal capitalism. 

 

 

Greider, William. The Soul of Capitalism. 2003.

 

Klein, Naomi.   No Is Not Enough; Resisting Trump’s Shock Politics.  2017.

 

Predator Nation.  Corporate Criminals, Political Corruption, and the Hijacking of America. 2012. 

 

Prins, Nomi.  It Takes a Pillage: Behind the Bailouts, Bonuses, and Backroom Deals from Washington to Main Street.  2009.

 

Reich, Robert B.   Supercapitalism;  The Transformation of Business, Democracy and Everyday Life.  2007.

 

Smith, Yves.  Econned: How Unelightened Self Interest Undermined Democracy and Corrupted Capitalism.   2010.,

 

 

Wolin, Sheldon S.  , Democracy Inc.: Managed Democracy and the Specter of Inverted Totalitarianism.  2008.

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