Down the Plughole
40 Years of Economic Policy in One Chart
Once wages detached from productivity, the rich progressively got richer. They used their wealth to reduce taxes on capital, role back critical regulations, break up the unions, install their own lapdog politicians, push through trade agreements that pitted US workers against low-paid labor in the developing world, and induce their shady Central Bank buddies to keep interest rates locked below the rate of inflation so they could cream hefty profits off gigantic asset bubbles.
Every mile of track laid for high-speed trains is a nail in the coffin of US categorical domination of that system. The US knows it, China knows it, the exciting race is on: can development best militarism?