[NeedMoreTea]

We abandoned Bretton Woods and triggered the hugely inflationary seventies - the 73 oil crisis helped a lot here too.

We've had, and still have, the Nordic model.

Capitalism is dramatically different today than it was in the 1960s in most countries. We've had the monetarism/neoliberal experiment for 40 years.

We've had globalisation to completely disconnect capitalism (and capital) from government, country and employee - just join the global race to the bottom.

We have had a huge number of reforms to capitalism. Trouble is for the last 40 years all reforms have been in one direction: In favour of the capitalist.

[devsag]

The only difference is there was no labor capital at that period. The risk of capital has been transferred to labor from capitalists. The real change in government happened through Reagan who legalized big corps and started the age of M&A. Globalisation also did help in economy but countries like China which have closed markets but access to open markets lead to more marginalization of labor.

[AnimalMuppet]

Reagan legalized big corps? Say what? There were big corps before Reagan. General Motors, say.