Advanced economies have faced downward economic and productivity growth since the 1970s
Evidence
The 1970s therefore set the stage for the lengthy slump in manufacturing profitability that has since been the baseline of advanced economies. A period of healthy manufacturing growth in the United States began when the dollar was devalued in the Plaza Accord (1985); but manufacturing slumped again when the yen and the mark were devalued over fears of Japanese collapse. And, while economic growth recovered from its 1970s lows, nevertheless the G7 countries have all seen both economic and productivity growth trend downwards. — Nick Srnicek, Platform Capitalism, 27
Categorization
- XREF: This directly frames the macro backdrop against which Zuboff places surveillance capitalism’s rise — the long downturn as the economic condition enabling data extraction to become the new profit source. — connects to: Structural adjustment policies shrank the economies that pursued them — Mark Blyth, Austerity: The History of a Dangerous…, 440; Advanced economies are slowing with increasingly intense recessionary cycles — Aijaz Ahmad, In Theory: Nations, Classes, Literatures, 592; The 1973 recession undermined Fordism and birthed a new accumulation regime — David Harvey, The Condition of Postmodernity: An…, 864 (+2 more)
Related
Broader Connections
- Advanced economies are slowing with increasingly intense recessionary cycles
#corroborates(0.82) — Aijaz Ahmad, In Theory, 592 - The 1973 recession undermined Fordism and birthed a new accumulation regime
#corroborates(0.75) — David Harvey, The Condition of Postmodernity, 864 - European deindustrialization after the 1970s fragmented entire categories of employed people
#expands(0.72) — David Theo Goldberg, John Solomos, A Companion to Racial and Ethnic Studies, 3152 - The euro produced divergence among European economies rather than convergence
#expands(0.70) — Mark Blyth, Austerity, 217