The_Icarian on Nostr: One of the first things Ronald Reagan did when he got into office is repeal a law ...

One of the first things Ronald Reagan did when he got into office is repeal a law from then Great Depression era prohibiting stock buybacks. That meant that public companies no longer invested in their businesses and in higher wages. Instead, the buybacks raised the share price for stockholders. It's not a coincidence that wages have been stagnate since then while productivity increased.