Right on pointing to 1971… and right on pointing out how ordinary people have been left behind ever since… but wrong on just about everything else. This chart tells the story most clearly:
This shows how many hours the average laborer has to work to buy one share of each of the stocks in the Dow index.
If the economy is truly growing, with wages growing with it, this trend would not appear.
But this has nothing to do with capitalism, but with allowing the banking sector to issue our money… those two things are not the same — they are not even close.
Prior to 1971 we had a capitalist economy where wages grew with the economy. That this was not experienced by African Americans is certainly true, but has nothing to do with capitalism.