Almost all of those making the key decisions had attended college in the 1960s, when campuses were at the very epicenter of political ferment, and they felt strongly that such things must never happen again. As a result, while they might have been concerned with declining economic indicators, they were also quite delighted to note that the combination of globalization, gutting the power of unions, and creating an insecure and overworked workforce-along with aggressively paying lip service to sixties calls to hedonistic personal liberation {what came to be known as "lifestyle liberalism, fiscal conservativism"}-had the effect of simultaneously shifting more and more wealth and power to the wealthy and almost completely destroying the basis for organized challenges to their power. It might not have worked very well economically, but politically it worked like a dream. If nothing else, they had little incentive to abandon such policies.
( David Graeber )
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