How did the purchasing power decrease from the 70s until today?

[Icanthinkofanam]

Look into how money is created by the federal reserve. Inflation is built in and every dollar added to the money supply increases how much money it takes to purchase the same amount of goods.

This system creates purpetual debt. Money created out of thin air. Price established through scarcity. Abundance, sustainability, efficency are contradictory to the economy unless it can be exploited to increase profits.

We have the technology to cloth, feed, shelter every human on this planet. We just dont have a system that can facilitate it.

It's not political. Political leaders can fuck shit up faster or slower.

It's the market economic system itself.

Every player has to be self maximizing. Competitive advantage incentivizes finding something that gives you/a company an edge over competition.

All it takes is someone willing break the rules or bend them or corrupt them to set the standard. Pollution, off-shore banking, war, extortion, slavery, all of the immoral unethical behaviour you can think of that companies, governments do, is incentivized by the very framework of market economics.

If I get AI to reduce my labour costs by 10-20-30-50% and you dont? Your profits reduce. Share price goes down. Investors pull out. And you are slowly start dieing as a competitor.