[rhino369]

The big reason was that from 1945 until the late 70s, America had a huge wealth gap compared the rest of the world. Half of Europe was communist, the other half recovering from a major war. Asia was still poor and technological backwards AND was recovering from war.

Western Europe's heavy handed socialism wasn't as competitive as their light socialism is now.

America was the undisputed leader of the economically free world.

All the sudden by the 1970's, the US had to start competing more and more with the rest of the world. Our super high wages for unskilled labor just weren't competitive on a global scale.

Also, women moving in the job market actually lowers wages because the worker supply expanded greatly.

[sogen]

whats the solution? less workforce?

china wont stop, and capitalism will ruthlessly choose the cheapest route.