Labor's falling share means that the "job creators" share has been increasing, as the record of rising inequality shows. So where are the jobs, "job creators"?
Neoliberalism at work, undercutting bargaining power of labor, coupled with the failure to understand Keynesian economics — "It's the demand, stupid."
Conversable Economist
Labor's Falling Share, Everywhere
Timothy Taylor | Managing editor of the Journal of Economic Perspective
3 comments:
"It's the demand, stupid." Tom Hickey
Yes, but a more fundamental reason is the money system, which is debt-based rather than equity-based.
Equity-based money:
1) Requires no borrowing, much less usury.
2) Is endogenous.
3) Is democratic, at least per share.
4) Is decentralized.
5) Requires no reserves.
6) Requires no central bank.
7) Requires no deposit insurance.
8) Since no borrowing is required, deflation is not built-in.
9) Price inflation only affects those with the power to issue new money - the existing money holders.
10) "Shares" wealth and power rather than concentrates them while at the same time allows consolidation of them for economies of scale.
If we wish to have an equitable society, we much have "equitable" endogenous money.
Make that "while at the same time allows consolidation of real capital", please, and forgive the typo in the last sentence where "much" should be "must."
The Lord giveth and the Lord taketh away.
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