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Monday, October 20, 2014

The Middle-Class Was An Accident?

Netscape creator Marc Andreessen "thinks the American middle class of the mid-20th century is an accident of history, created because much of the industrialized world was bombed out of existence during World War II. 'The one major industrial country that wasn’t bombed was the United States. So the United States became the monopoly producer of industrial goods.' However, by the late 1960s, Germany and Japan had rebuilt their economies, and it started to fall apart. 'It was an accident of history.'"

I don't believe so. The Middle-Class' primary enemy has always been the wealthy. Right now, however, the wealthy enjoy an advantage based on commoditization. As Charles Hugh-Smith explains:
Commoditization makes all inputs interchangeable. Global labor has been commoditized because it no longer matters which workers assemble the goods, global capital has been commoditized because it no longer matters where the capital comes from, and globally produced goods, services and resources have been commoditized because it no longer matters where they come from or who produces them.
Meaning that the premiums earned on a product that might have once been shared with producers now go to shareholders.

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