Mid century capitalism was certainly more worker focussed. CEOs salaries were more like single digit/low double digit multiples of average worker salaries. Profit got reinvested into development. Companies would literally brag about how well their employees were paid. This is the era that saw the US become a powerhouse globally.
Then Jack fucking Welch came along. He’s the motherfucker that started this crap with closing marginally profitable departments because it increased the overall profitability of the company as a %, which increased the stock price.
So the caricatures of ultra wealthy factory owners from the 19th century were just visionary fantasy?
Yes 1.5 lifetimes ago is not a long time
Mid century capitalism was certainly more worker focussed. CEOs salaries were more like single digit/low double digit multiples of average worker salaries. Profit got reinvested into development. Companies would literally brag about how well their employees were paid. This is the era that saw the US become a powerhouse globally.
Then Jack fucking Welch came along. He’s the motherfucker that started this crap with closing marginally profitable departments because it increased the overall profitability of the company as a %, which increased the stock price.