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How Communism Created the Golden Age of Capitalism
Manage episode 490450493 series 3302283
The golden era of capitalism from the 1950s to 1970s wasn't brought to you by capitalism but by communism and government regulation. During post-WWII America, the government implemented socialist policies that created unprecedented prosperity while simultaneously demonizing communism abroad.
• Government contracts forced corporations like Boeing, General Dynamics, and Lockheed to build specific products with extensive oversight
• Social services including the GI Bill, Federal Housing Administration, Highway Interstate Act, Medicare and Medicaid were created during this era
• Top marginal tax rate was 91% from 1946-1963, funding social spending and development
• Employment Act of 1946 legally committed Washington to pursue maximum employment
• When USSR collapsed in the 1980s, deregulation followed, creating massive inequality
• Capitalism only wore a human face because it feared losing its head to communism
Check out my book Rethinking Broken now available at RethinkingBroken.com where you can purchase the paperback, hardback, ebook, or soon-to-be-released audiobook directly from me rather than through Amazon.
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Chapters
1. How Communism Created the Golden Age of Capitalism (00:00:00)
2. Welcome Back After Five Weeks (00:00:35)
3. Rethinking Broken Book Update (00:04:47)
4. The Golden Era of Capitalism (00:05:56)
5. Government Contracts and Communist Principles (00:10:56)
6. Social Services During Capitalism's Golden Age (00:16:01)
7. When Pressure Faded: Deregulation's Impact (00:21:13)
8. Book Updates and Future Episodes (00:27:47)
9. Final Thoughts and Where to Buy (00:34:34)
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