S7 E7: Gilded Age 2.0
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Neoliberal Consensus Consequences
- Under the neoliberal consensus, government regulations were reduced across industries, and labor laws weakened, hindering worker organization.
- Union membership drastically declined from one-third of U.S. workers in 1960 to less than 15% by 2000.
- Large tax cuts primarily benefited high-income earners and corporations.
- This era saw the rise of executives like Jack Welch, who prioritized profit maximization as the sole social responsibility of business.
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