The causes and consequences of the crisis of Western welfare states

1: The first pot of gold for European and American imperialism came from the war reparations of the agricultural country "China",

2: The second pot of gold came from the huge profits brought by the industrial revolution,

3: The third pot of gold came from scientists from Germany, the defeated country of World War II, who brought rapid development of science and technology to the British and American countries and created huge wealth.

These three pots of gold gave capitalism The country has brought wealth! Why did all countries experience recession in the 1990s, the most severe ones being the United Kingdom, France, and the United States? Why did they decline? The reasons are as follows:

One: low fertility rate,

two: not paying attention to industrial production, but paying attention to the financial industry that brings quick money, causing a large number of industrial product production lines to move to Asia, causing domestic Unemployment rate increases

3: High universal welfare makes people not love to work but pursue enjoyment, resulting in high wages!