Andrew Ross Sorkin

I worry or I'm concerned that this sort of 1950s to call it 1980 period where we had this sort of utopia that we think about.

I don't know if it's really utopia because there was all sorts of civil unrest and other things that took place during that period too.

Right.

It was also a function of the fact that the U.S.

was a monopoly power in the world during that period and was able to effectively charge monopoly rents.

So effectively, the rest of the world after World War II was out of business.

We were not competing with anybody.

We were it.

We were the entire game.

And so we could charge remarkable amounts of money.

There was no competition.

And so because this sort of

Period was taking place.

You could charge an extraordinary amount of money.

You could afford, if you will, to pay labor what I think we all hope that labor deserves.

But it was partially because we didn't – there was not –

a competitor.

In 1980, when you start to see how wages stagnated in America starting in late 70s, early 80s, and you go and you look, all of a sudden, Germany's back.

Japan's back.

Everybody's now competing against America.