capitalism
Out of context: Reply #140
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the advent of the computer led to more productivity without more work. more profits by less employees. after the war, we didn't make tvs, cars, and other consumer goods, not only that, the world no loner bought from us. so with no customers, american businesses started to dry up. realizing there was a workforce overseas, they began to hire foreign labor. that increased the competition for jobs here. now, behind the 8 ball, companies could no longer entice buyers into their products as they were broke. enter the banking biz as most illustrated by GM and GMAC bank. realizing they weren't selling cars, GM began loaning their excess profits to their car buyers just so they could move units out the door. quickly they realized they could make more money off the loan, than the car.