People keep asking the same question, because daily life keeps getting harder: Why is everything so expensive? Why is everyone so stressed? Why does it feel like the economy is rigged?
The short answer is – it is – The longer answer matters, because this didn’t happen by accident. For most of human history, wealth inequality was brutal. A tiny elitist crew owned almost everything, and most people lived short, precarious lives. That only changed briefly, and recently.
The Post-war exception (1945–1975). After World War II, something unusual happened. Governments become in part democratic, and with the balance of the Cold War, remembered what economic collapse leads to: fascism, war, and social breakdown. So they built a tightly regulated global economic system designed to keep things boringly stable. This was the Bretton Woods system.
Currencies were fixed. Banks were regulated. Capital was controlled. Unions were strong. Taxes on the rich were high – often 90%+ on top incomes and inheritances. And this worked from 1945 to the early 1970s. Wages rose with productivity, housing was affordable, one income could support a family, inequality fell, a broad middle class emerged. This wasn’t the “free market”. It was the opposite. It was embedded liberalism – markets contained by society, not the other way around.
The Crisis of the 1970s was when the system hit its limits. The US stopped running trade surpluses. The #coldwar drained resources, oil shocks sent inflation soaring. The Bretton Woods system collapsed in 1971. By the mid-1970s, the global economy was in stagflation: high inflation, high unemployment, low growth. For ordinary people, life got harder. For the #nastyfew elitists, something else happened. Their share of national income – quietly shrinking since the 1940s – suddenly mattered again. When growth slowed, they could no longer tolerate workers getting a larger slice of the pie.
This was the moment they chose #neoliberal counter-revolution, this wasn’t spontaneous, it was planned. Corporations funded think tanks, media narratives were reshaped, universities were targeted. Politics was captured from the inside. Business needed to seize cultural, political, and ideological power.
Thatcher, Reagan wasn’t neutral “economic science”, they were populist #classwar. Labour lost bargaining power, capital regained it. The tools of the post-war order were put to use – The IMF used debt crises to force austerity and privatization on the Global South, whole countries were stripped of economic sovereignty, poverty and inequality exploded. This was accumulation by dispossession – old colonial extraction, updated for financial capitalism.
Thatcher and Reagan:
- Broke unions through force and law
- Slashed taxes on the rich
- Deregulated finance
- Privatized public assets
- Redefined government as the enemy
From this point on, productivity rose, but wages stopped. The new normal is ownership over work, it’s the world we live in now.
- Housing treated as an investment, not a home
- Wages stagnating while CEO pay explodes
- Finance dominating the real economy
- Debt disciplining both workers and nations
- “Market logic” replacing democracy
This is not failure, it is success, for the people who pushed it. We now have 40 years of #mainstreaming to shift and compost.
Why this matters for us, and why the #OMN projects matter for you. Media matters, #mainstreaming journalism, always reports within this system. It speaks truth from power – explaining, managing, normalising. What we need is grassroots journalism that speaks truth to power. We need more signal, and less noise in our own media. This signal asks: Who benefits? Who decides? Who pays? What was deliberately dismantled? What can be rebuilt – differently?
The native #openweb #OMN path is not about fixing the worship of the market. It’s about walking out of the temple. This economy was designed. That means it can be redesigned. But not by begging. Not by rearranging seats, and not by pretending this mess is accidental.
So if you want to help make one of this missing piler of society work, then #KISS get up, pick up a shovel, start composting the shite pile. That’s where new growth comes from.
