The typical American worker felt under pressure. Wages were
dropping faster than prices. Foreigners were arriving to take jobs
from “real Americans”. The price of new technology components fell
relentlessly, prompting waves of mergers. Cheap goods flooded the
Serious people feared the collapse …
I do wish that history was taught
better. I really do. The above quote? Sounds like it could be talking
about today, right? But it does have that “we're talking about past
events” vibe to it. And no wonder, since the author is talking not about
our current economic condition, but that of 1900.
Which is why, oddly enough, I don't have an overwhelming sense of dread
about what's happening in the US
right now, since this is basically a reply of the early 1900s. An Imperial
President in bed with corporate interests invading soverign
countries and presiding over a recovering economy.
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