11-11-2019, 11:14 AM
(11-11-2019, 01:34 AM)pbrower2a Wrote: It's the latter part of the 3T that makes the storm of a 4T possible. Consider what goes on in a degeneracy: institutions other than for-profit institutions weaken, with the for-profit institutions tending toward monopoly and brutal methods of command-and-control. Because honest work is severely underpaid, people start finding get-rich-quick schemes all the more attractive. Mass culture gets raw and cynical, and it falls for showy glitz. Enterprise goes from investment to what is for all practical purposes gambling.
The Degeneracy is a time in which people become materialistic in the extreme -- yet fail. Lust for anything rarely gets one what one wants, whether in sex or wealth.
Your personal experience in the regeneracy may be failure, but that doesn't mean everyone fails. Most people do just fine.
The only accurate point in your post is that the issue is tendency toward monopoly and centralized control, and that doesn't happen until the crisis era.
Quote:Hintergrund
Problems began earlier, in the 2T. They were just of a different kind.
That's true too; for example, real wages flatlined in the early 1970s while productivity continued growing, albeit slower for a decade or two.
