The core function of technology is to save jobs: shift making things and providing things by humans on to “machines” in the broadest sense of the meaning. Thus, if we are to have a political democracy we must also have an …economic democracy where productive capital (the “machines” etc.) are broadly owned by every man, woman, and child, and never allowed to concentrate in a group that monopolizes ownership as is in the present. On the basic issue of economic empowerment of each individual, the essential goal needs to be economic democracy, which will finally make political democracy a meaningful reality.
The economy through its business sector should always strive to create productive value. In order to accomplish this, there needs to be sustainable consumer demand for products and services produced by Americans. Americans need to be connec…ted via individual ownership to the productive capital instruments used to produce the products and services to be consumed. At present, there is a disconnect with the 1 percent owning 90+ percent of the economy’s current productive capital structure, with the other 99 percent having to depend on their declining labor worker earnings to support the nation’s need for sustainable consumer demand. The 1 percent cannot possible spend their capital worker earnings on consumer products and services, to they end up investing the excess and further concentrating productive capital ownership. What is needed is a financial system that uses innovative credit mechanisms to enable the workforce and other Americans to acquire ownership in new capital formation endeavors and to pay for their acquisition out of the future earnings underlying the new capital formation. This will have the result of broadening productive capital ownership, expanding jobs, and providing Americans with the opportunity to not only earn from their labor but also to earn from their capital ownership assets, and over time build a viable capital estate.
