WTF Happened In 1971???

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[dwt]

I would argue that another major factor affecting wages was Nixon's "opening up" China about the same time. American workers since then have been ever more competing with labor from around the world and that has greatly depressed wages.

[johneboy]

I had always heard that the average worker's buying power peaked in 71.
If I'm not mistaken, the average CEO's salary was 40x the average worker at that time.
Now it's 400x!

[dizave]

Good video. Interesting data. How does population growth play into all of this?

[glizz]

In other words companies are getting greedy and don’t want to pay shit

[JerryA]

What happened in 1971? I got married and the world flipped over!!!

[legitKwit]

We left the gold standard and went to the petroleum backed dollar.

[tomalexander]

I would say that passage of ERISA in 1974 or 75 had a lot to do with stocks taking off in the next decade. Especially, after the interest rate boom of the late 70's early 80's collapsed. I sold a $24K house bought in 1974 for $44K in 1979. Unfortunately, I replaced it with a $60K house with a 11.625 % mortgage. My father, who retired in 1979 thought it was great to get 15%. on his CDs.

[uncareid]

Josh: log-uh-RITH-mick I can say it but I'm not sure what it means

[nichethought]

gold std and taxes are good places to review in theses years