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Do you understand what may actually have been the underlying cause of our economic meltdown?
Asked by Zendo (1752)
August 1st, 2009
Rising productivity caused by employers refusal too raise wages way back in the 70s, coupled with incredible profits (brought about by labor’s frozen wages + increased productivity [brought about by new technologies]) multiplied by credit to those same workers = DISASTER….
Here is Richard Wolff with 4 and a half minutes of explanation:
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