In Episode 52, with the annual celebrations of Independence Day, Tommy looks at the American Revolution. When constricting the Declaration of Independence Thomas Jefferson set an extremely high bar for the state to live up to. 13 years later yet another bar was set with the ratification of the constitution. Despite the romanticized view of the past every president and Congress since has fallen miserably short of the goals set by the promises of these documents. And in the 1900’s these goals and promises were abandoned altogether for the riches and dominance that empire promises.
Mass Production Equals Mass Consumption
[R]elative shares in national income have remained substantially constant over the last hundred years. This, however, is true only if we measure them in money. Measured in real terms, relative shares have substantially changed in favor of the lower income groups. This...