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Pay and Production are no longer related for most workers - So Production can be cut, without lowering pay for most workers.
(assets.chaos.social)
Image found here: https://chaos.social/@mathowie@xoxo.zone/113244489942388584
Just want to note that the 80s was when the Boomers started taking over/inheriting companies and leadership positions from the generation before them. The Greatest Generation passed the torch to the Worst Generation and things have gotten worse ever since.
This is the part they leave out when you hear, "Boomers had it just as bad."
But have you considered that I know a Boomer personally, and he isn't rich?