The good old days
The good old days
The 1950s were great (for white people) because wages were high enough to pay for a house and support a family of five, with only one parent needing to work - even for ‘untrained labor’ jobs.
This was made possible by higher taxes for the rich and strong unions. Both disappeared, and the effects are evident.
This was made possible by higher taxes for the rich and strong unions.
And a devastating world war that destroyed the infrastructure of every other industrialized country on the planet, but left the USA almost entirely untouched, leading to a massive demand for tools and materials for rebuilding that could only be met by the USA.
If the Americans want the 1950s economy for white people back, not only do they need the social programs from the 1930s that survived until the 1950s, they also need a devastating world war somewhere overseas that the US only joins halfway through once those other countries have their infrastructure completely obliterated. Starting a war in Iran won’t cut it because then it’s the US having to pay for planes and bombs and artillery, rather than selling to both sides as the US did up until it joined the allies in WWII.
The World War thing was massively overblown. Yes, we did the Marshall Plan, but this was a small part of the US economy. It’s mostly a myth that we had the booming middle class because everyone else had their industrial base destroyed in the war. Look at an actual plot of exports as a share of GDP:
Today exports make up three times the amount of our national economy than they did in the mid 1950s.
Yes, you can find figures that show the US absolutely dominating the global production of certain goods like cars in the 1950s. But what’s important to note was that almost all of this production was consumed domestically. The US produced a lot of stuff, but it also had a ton of wealthy consumers. And that’s the other thing. People living in bombed out ruins don’t have the money to buy brand new Fords. Yes, the other countries weren’t producing much, but they also weren’t buying much either.
I think this graph is more relevant: