Amateur opinion, but President Nixon was president in 1971, and I wonder if a lot of it is increased greed primarily due to two things. This increased greed also manifests as more short-term thinking. To paraphrase Fast and Furious, "I live my life one quarter at a time".
First, decreased consumer and investor confidence in the future after the combination of Watergate, removal from the gold standard, and the Nixon Shock policies [1].
Second, the Wharton MBA program's rise, and the Wharton view, as explained to me, that employees should be treated as renewable resources, not to some extent as family.
First, decreased consumer and investor confidence in the future after the combination of Watergate, removal from the gold standard, and the Nixon Shock policies [1].
Second, the Wharton MBA program's rise, and the Wharton view, as explained to me, that employees should be treated as renewable resources, not to some extent as family.
[1] https://en.wikipedia.org/wiki/Nixon_shock