Capitalism Is Failing, People Want A Job & A Decent Wage: Guardian, "Broken Capitalism Series"

[PETRUS]

5. That graph makes a pretty damning statement about capitalism.

The reductions in poverty rates occurred between mid-century and 1972, when democratic institutions were a more significant factor in questions of production and distribution (i.e., when capitalism per se had a smaller role than it did before or since). A return to market fundamentalism and the erosion of democracy's role in the economy was underway by the early '70s. Since then there haven't been meaningful reductions in the poverty rate (poverty has gotten worse for people under 64), in spite of real GDP per capita doubling.