/biz/ - Business & Finance

>>50623963
>Can't just say this without a source breh. And a source that wages didn't go down as well. (Adjusted for inflation of course).
pic related, real wages for workers radically rose during this relatively free market period
prices constantly fell
Even wikipedia agrees
https://en.wikipedia.org/wiki/Gilded_Age
>The rapid expansion of industrialization led to real wage growth of 60% between 1860 and 1890, and spread across the ever-increasing labor force. The average annual wage per industrial worker (including men, women, and children) rose from $380 in 1880, to $564 in 1890, a gain of 48%.

>"There are no natural monopolies" is the confession of faith of the rightoid
lol this is like telling a little kid there is no santa
Monopolies are not possible in a free market. Especially "natural monopolies".
https://mises.org/library/myth-natural-monopoly
You legit cannot even give one example.

>because things besides labor are bought and sold.
No dumbass, because value is subjective. I literally just explained this and you ignored it. Labor is not homogenous.
Capitalists make more money because the LABOR they provide to the firm is more valuable.
Saving money for 3 years and coming up with a business plan provides far more value than turning a wrench.

>No, they paid someone to come up with it
Wrong. Initially, it was them who came up with the plans. They can sometimes pay people who come up with ideas, but they are still using their funds they worked for to do this.

>>50603383
lmao are you unironically a maoist bootlicker?
You know that the majority of those increases in life expectancy happened after china abandoned maoism and implemented market reforms, right?
You know that countries with economic freedom had already massively increased live expectancy, right?

Why did life expectancy increase in eastern europe after the fall of communism?

>>50603404
>lol, late 1800's America
Yes, the greatest increase in living standards for workers in human history up to that point
people came from all over the world to work in american firms which paid the highest wages
Read a book.

> when kids got there arms ripped off in machines
Kids had much worse living conditions on farms in poorer countries. It was this era that made society rich enough to the point children didn't have to work anymore.

>You are so god damn stupid
You're a bootlicking socialist that doesn't know how to read lmfao
You couldn't even refute the countless other stateless examples I gave.

>>24428499
>Show me the evidence then
okay
>Fractional reserve banking.
FRB isn't even that bad of a thing, of course it's fraud, but it was kept to a minimum through this period because people gave a shit where they put their money and wouldn't put money in a bank that recklessly lend it out.

>so the usurious interest to be paid wasn’t always entirely in gold
So? People paid back gold certificates.
This wasn't that big of a deal back then and isn't a big deal in general. I don't know why you people base your entire worldview around what is essentially nothing.
The main problem is central banking.

>>22527723
>it's 2020 friend and china does not believe you should be pursuing happiness they believe you should be put to work for the party and only own what is necessary to that end. same as the ussr and the nazis
True.
Then why should we adopt portions of their economic policies to "fight them"?

>>22527775
Read more austrian theory bro, especially on the history of the miracle of the gilded age and the massive increases in living standards it created.
We had a deflationary free banking system this entire era.
https://mises.org/library/transformation-american-economy-1865-1914

>>17174727
>you do realize the living standards of the working class fell
Not true at all.

>>16510296
>ow would you run a modern economy without a central bank?
Just like we did in the late 1800s?
Extremely high growth rates, deflation, living standards increasing every year.

kys bootlicker shill