On May 18, 2012 Robert Reich, Professor of Public Policy at the University of California, Berkeley, wrote about the job market decline.
“First, you’re going to have a hell of a hard time finding a job. The job market you’re heading into is still bad. Fewer than half of the graduates from last year’s class have as yet found full-time jobs. Most are still looking.
“That’s been the pattern over the last three graduating classes: It’s been taking them more than a year to land the first job. And those who still haven’t found a job will be competing with you, making your job search even harder.”
Unfortunately, Professor Reich does not point to the direction that will in the short-term result in “real” job growth and opportunity, while in the long-term result in viable income-producing productive capital asset holdings providing economic security. That solution is enact policies and programs that broaden private, individual ownership in future productive capital assets employed in production of products and services as a non-human factor and held by broadly owned business corporations, who are incentivized or mandated by federal/state law to pay out all profits as income dividends to the individuals owning the corporations.
As long as working people are limited by earning income solely through their labor worker wages, they will be left behind by the continued gravitation of economic bounty toward the top 1 percent of the people that the system is rigged to benefit. Working people and the middle class will continue to stagnate, resulting in a stagnated consumer economy. More troubling is that this continued stagnation will further dim the economic hopes of America’s youth, no matter what their education level. The result will have profound long-term consequences for the nation’s economic health and further limit equal earning opportunity and spread income inequality. As the need for labor decreases and the power and leverage of productive capital increases, the gap between labor workers and capital owners will increase, which will result the collapse of the system.
