Comment by aborsy
10 days ago
Based on extensive academic research on trickle-down economics, in particular looking into the evolution of real wages of different sectors of population, since 1980s.
See the work of recent Nobel prize laureates in economics. Many argue for redistribution and investment back to the society.
But the past few revolutions benefitted everyone and we are better off. Look at industrial revolution, digital revolution. Why do you think it is different this time? If trickle down economics don't work, why is world poverty at all time low and consumption at all time high?
> Look at industrial revolution
I really don't see how one can separate the industrial revolution from colonialism, considering we have chiefs of government in colonial countries on the record saying that colonies are a necessary outlet for industrial goods [1].
Once you've established that link, it's hard to explain that "everyone" benefitted from the industrial revolution.
Even disregarding that, the working conditions created by industrialization allowed for situations that can hardly be described as "beneficial" [2][3][4].
> digital revolution.
[5] provided without comment.
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[1]: for instance, Jules Ferry: https://www2.assemblee-nationale.fr/decouvrir-l-assemblee/hi...
[2]: https://en.wikipedia.org/wiki/Bisbee_Deportation
[3]: https://en.wikipedia.org/wiki/Ludlow_Massacre
[4]: https://en.wikipedia.org/wiki/Coal_Wars
[5]: https://en.wikipedia.org/wiki/PRISM
What percent of the population in places which experienced the industrial revolution would be better off if they time-travelled back 200 years? 1%? 0.2%?
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Places that luckily avoided colonialism haven’t improved a zilch.
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As noted, this refers to Reagan policies and onward.
Even after Reagan's policies how do your points hold?
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