National MSNBC commentator Ed Schultz continues to OVERLOOK THE OBVIOUS!! His focus as others is on Full Employment and Jobs rather than Full Production and Productive Capital Ownership!
What should be obvious is that people invented tools to reduce toil, enable otherwise impossible production, create new highly automated industries, and significantly change the way in which products and services are produced from labor intensive to capital intensive––the core function of technological invention. Yet Ed et, al continue to be stuck in advocating JOBS as first priority, when advocating broadened productive capital ownership will result in “real” job growth and most importantly empower ordinary Americans to acquire private, individual ownership in new expanding productive capital assets of corporations using insured capital crudity and paid for out of future earnings. Such policies will provide a “second” dividend income and pave the path for prosperity, opportunity, and economic justice.
Binary economist Louis Kelso attributed most changes in the productive capacity of the world since the beginning of the Industrial Revolution to technological improvements in our capital assets, and a relatively diminishing proportion to human labor. Capital, in Kelso’s terms, does not “enhance” labor productivity (labor’s ability to produce economic goods). In fact, the opposite is true. It makes many forms of labor unnecessary. Because of this undeniable fact, Kelso asserted that, “free-market forces no longer establish the ‘value’ of labor. Instead, the price of labor is artificially elevated by government through minimum wage legislation, overtime laws, and collective bargaining legislation or by government employment and government subsidization of private employment solely to increase consumer income.”
Furthermore, according to Kelso, productive capital is increasingly the source of the world’s economic growth and, therefore, should become the source of added property ownership incomes for all. Kelso postulated that if both labor and capital are interdependent factors of production, and if capital’s proportionate contributions are increasing relative to that of labor, then equality of opportunity and economic justice demands that the right to property (and access to the means of acquiring and possessing property) must in justice be extended to all. Yet, sadly, the American people and its leaders still pretend to believe that labor is becoming more productive.
http://ed.msnbc.msn.com/_news/2012/05/02/11504408-ugly-chart-alert-workers-getting-hosed?lite
