Godfrey Hodgson stated that the economic inequality has increased so dramatically since 1970 because of changes to the market and powerful conservative Republicans ability to dominate over the economy since President Nixon’s presidency. The economy that was prevalent since the New Deal was changed so it could focus on the free market (Hodgson 16-20). During 1945 to 1970 wages and standard of living increased at a significant pace but as the 1970s came the economy had high unemployment, high inflation and standard of living was at a stand still
(Smith, Lecture Notes, week 2). Americans that were employed not only suffered because wages were not increasing but also because of the decrease in retirement benefits and the lack of health insurance
(Smith, Lecture Notes, week 2). Americans that were employed not only suffered because wages were not increasing but also because of the decrease in retirement benefits and the lack of health insurance