Comments by "Rusty Shackleford" (@POCKET-SAND) on "Explaining America’s Nine Nations part 1" video.
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@andzzz2 No, the post-war years brought about the prosperity of the 1950s, unions had virtually nothing to do with it. WWII pretty much severely crippled, if not outright destroyed, all the the world's industrial economies (Europe, U.S.S.R., and Japan) except for the U.S. So the U.S. basically had a monopoly on all industries for 15 years while the rest of the world rebuilt itself. That's why the economy was great during the late 40s, 50s, and early 60s, American industries had virtually no international competition.
Wealth isn't necessarily created by workers, that's just a Marxist talking point. You can easily create wealth through investments that don't involve anybody performing physical activity. Additionally, when banks give out loans, they are creating wealth, as people still have their money in the bank and others are receiving funds in order to start a business or make a large purchase. Deindustrialization largely happened because companies found it cheaper to produce things elsewhere, largely because labor unions made the cost of production much more expensive.
The root cause of the decline wasn't necessarily the fact that labor unions are corrupt, it was that labor unions made the cost of production more expensive. And the standard of living hasn't necessarily declined and even if it did, correlation doesn't equate to causation.
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