> We’ve been undergoing a 70-year long period of deregulation
This is incorrect. Deregulation only started in the late '70s. There was adequate oversight and anti-trust enforcement until then. The unusually high growth in that period was during an _expanding_ government role (and wider union membership and 90% tax rate for the extreme brackets). Since the 80s, GDP growth has slowed to low single digits with continuously rising inequality.
>In the electric industry, deregulation...
Deregulation in this area also resulted cutting of power to tens of millions as blackmail for orders of magnitude higher rates until the state stepped in again.
And while initial deregulation of airlines has had many advantages, stifling the already inadequate oversight from FAA and thinking it will produce better out comes is literally fatally flawed reasoning.
> The unusually high growth in that period was during an _expanding_ government role (and wider union membership and 90% tax rate for the extreme brackets).
And also during a unique period in history, when the US economy was the only one in the world not devastated by World War II and when there were huge new markets opening up that made corporations willing to pay high wages and taxes in order to capture market share. By the 1970s that was ending as markets saturated and other countries rebuilt their economies and caught up.
Absolutely true. I was just dispelling the alternative history where the depression was due to over regulation and the post war boom was due to removing regulation.
And incidentally dispelling the idea that, where necessary, adequate oversight does not kill an economy.
This is incorrect. Deregulation only started in the late '70s. There was adequate oversight and anti-trust enforcement until then. The unusually high growth in that period was during an _expanding_ government role (and wider union membership and 90% tax rate for the extreme brackets). Since the 80s, GDP growth has slowed to low single digits with continuously rising inequality.
>In the electric industry, deregulation...
Deregulation in this area also resulted cutting of power to tens of millions as blackmail for orders of magnitude higher rates until the state stepped in again.
And while initial deregulation of airlines has had many advantages, stifling the already inadequate oversight from FAA and thinking it will produce better out comes is literally fatally flawed reasoning.