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Do you understand what may actually have been the underlying cause of our economic meltdown?
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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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