/sci/ - Science & Math » Thread #11954899

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Anonymous Thu 30 Jul 22:23:52 2020 No.11954899 View Reply Original Report

Quoted By: >>11954966 >>11954971 >>11954992 >>11955002 >>11955074 >>11955103 >>11955146 >>11955173 >>11955189 >>11955217 >>11955336

scientifically speaking, wtf happened in 1971?
https://wtfhappenedin1971.com/

Anonymous

Anonymous Thu 30 Jul 2020 22:47:48 No.11954966 Report

Quoted By:

>>11954899
Energy crisis which led to economic issues led to inflation led to fiat money adoption led to stagnation.

Anonymous

Anonymous Thu 30 Jul 2020 22:49:39 No.11954971 Report

Quoted By:

>>11954899
The end of Keynesianism and the beginning of supply side economics which lasted throughout the 1980s. Also, tax cuts for the rich. (Reagan and Bush Jr.)

Anonymous

Anonymous Thu 30 Jul 2020 22:53:38 No.11954979 Report

Quoted By:

Didn't the U.S. abandon the gold standard in 1971?

Anonymous

Anonymous Thu 30 Jul 2020 22:57:24 No.11954992 Report

Quoted By:

>>11954899
Peak middle class

Anonymous

Anonymous Thu 30 Jul 2020 22:59:33 No.11955002 Report

Quoted By:

>>11954899
Women entered the workforce in large numbers. The supply of unskilled/semiskilled labor doubled, with no corresponding increase in demand.

We're lucky it wasn't worse.

Anonymous

Anonymous Thu 30 Jul 2020 23:01:52 No.11955009 Report

Quoted By:

Oil crisis, foreign competition, end of the gold standard, deregulation, women in the workforce, automation, illegal immigration

Anonymous

Anonymous Thu 30 Jul 2020 23:06:21 No.11955018 Report

Quoted By: >>11955120

IQ in the US is highest for those born in 1972. Sociologists have tied themselves in knots trying to come up with some explanation other than immigration, even at one point trying to claim children of immigrants shouldn't be treated as the result of immigration. As much as they tried, they've never been able to get around the fact that mass immigration over the last half century has been dumbing down the population. We now have a huge surplus of low skill workers which has driven wages down for that group, which also is the largest labor group.

Anonymous

Anonymous Thu 30 Jul 2020 23:24:54 No.11955074 Report

Quoted By:

>>11954899
a few years after hart caller, end of gold standard, more women entered the workforce.

Anonymous

Anonymous Thu 30 Jul 2020 23:35:27 No.11955103 Report

Quoted By:

>>11954899
They did it because they could. Try and stop them. You can't. That's how a free market truly works.

Anonymous

Anonymous Thu 30 Jul 2020 23:39:25 No.11955120 Report

Quoted By:

>>11955018
its all the low IQ south american farmers that flooded from their shitholes into america starting in the 1960s, people that never had education and didn't even understand electricity used as cheap labor and cattle for the elites, they destroyed america

Anonymous

Anonymous Thu 30 Jul 2020 23:48:19 No.11955146 Report

Quoted By:

>>11954899
IT was invented

Anonymous

Anonymous Thu 30 Jul 2020 23:56:44 No.11955173 Report

Quoted By:

>>11954899
Here's everything that happened
w w w (dot) timelines (dot) ws/20thcent/1971 (dot) H T M L
nigger

Anonymous

Anonymous Fri 31 Jul 2020 00:03:37 No.11955189 Report

Quoted By:

>>11954899
Primarily because of machining and computerization where workers became less specialized allowing employers to pay less due to lower demand for skilled labor.

Anonymous

Anonymous Fri 31 Jul 2020 00:22:30 No.11955217 Report

Quoted By: >>11955239

>>11954899
gold, which was valued at $35/t.oz., was no longer used as a currency.
Logically, this means the value of gold should have depreciated.

Accounting for inflation, $35 in 1971 would be ~$240 today. Which means gold should be worth approx. $240/troy ounce.
And what is gold worth today?
$1,960/t.oz.
Scientifically speaking, what do /you/ think happened?

Anonymous

Anonymous Fri 31 Jul 2020 00:33:56 No.11955239 Report

Quoted By: >>11955252

>>11955217
Economic production expanded faster than the gold supply did?

Anonymous

Anonymous Fri 31 Jul 2020 00:41:19 No.11955252 Report

Quoted By:

>>11955239
why didn't that production affect lower/middle class wages then?

Anonymous

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Anonymous Fri 31 Jul 2020 00:45:40 No.11955272 Report

Quoted By:

Nixon Shock

Anonymous

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Anonymous Fri 31 Jul 2020 01:04:14 No.11955336 Report

Quoted By: >>11955364

>>11954899
The economy changed due to Nixon shock. Productivity gains started being captured disproportionately by white collar working professionals who don't count as production non-supervisory employees due to white collar exemptions in the Fair Labor Standards Act of 1938. Essentially, high skilled workers kept increasing their productivity and by extension their compensation. Average skilled workers saw much slower gains in both.

Anonymous

Anonymous Fri 31 Jul 2020 01:16:11 No.11955364 Report

Quoted By:

>>11955336
>Bureaucrats found a way to squeeze more out of people who actually produce things that we need by selling production to slave owners in the far east.

You are scum.

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