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South Central MN | From what I gather the 40's through 70's that you cite had several things driving growth. Might not be accurate but seems to be what I got out of looking at the history of that time period.
-WW2 did drive a lot of manufacturing for a while, as well as a lot of new technology.
-Europe was in shambles after WW2, so rebuilding enabled a lot of growth over here while they were behind for a while.
-Lots of kids being born, all turning into future workers and consumers. Population growth kept going for quite a while but now that it isn't growing and people get older some problems that weren't brought up before are coming home to roost. (Social security running short, at one time I doubt they considered that people would have far fewer kids, and if they did they must have ignored it.)
Not sure how the economy kept moving forward as it got later but with the arms race against the Soviet Union a lot of money got pushed into some industries.
I don't know how things would be like now if the jobs stayed, or even if they moved to Mexico and several other countries close to it instead of all moving to China. Might have less illegal immigration if they were looking for a paying job and more opportunities.
China gobbled things up on purpose, so some of the problems now were not by accident. | |
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what i`ve observed about free trade.
