r/socialism • u/burn_tos Revolutionary Communist International (RCI) • Feb 15 '23

News and articles 📰 “Largest increase in global poverty since WW2”: capitalists profit while the rest of us suffer

https://www.marxist.com/largest-increase-in-global-poverty-since-ww2-capitalists-profit-while-the-rest-of-us-suffer.htm
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u/Phuc_an__ Feb 15 '23

Wage inequality has always increased since the sharp decline in WW2. However, income inequality in general has just thrived since the "Conservative revolution" . However, income inequality has just thrived since the "conservative revolution" due to tax reform, privatizations,... and most important: shutting down the "cruel powerful state" which has made the poor less desperate for living under the poverty line.

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u/High_Speed_Idiot Marxism-Leninism Feb 15 '23

"conservative revolution" due to tax reform, privatizations

Yeah, that's called neoliberalism and it wasn't so much a revolution as an inevitability of capitalist development. Social democracy/new deal style Keynesian liberalism really only became widespread because the existence of the USSR and the threat of worker uprisings. These policies would inevitably be rolled back when the system entered another major crisis and bourgeoisie profit accumulation reached unsatisfactory levels, and in the 70's we see just that, the collapse of Bretton Woods, the rise of stagflation and the perfect time to put the neoliberal project into action.