Gary Shapiro’s excellent article points out the stupidity of our higher education practices. But even more disappointing is the short- and long-term consequences of continued concentration of ownership of our non-human productive capacity.
President Obama stated: “What’s at stake is whether this will be a country where working people can earn enough to raise a family, build a modest savings, own a home, and secure their retirement.” 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 in upheavel. See http://foreconomicjustice.com/11/economic-justice/
http://www.forbes.com/sites/garyshapiro/2012/03/14/training-our-competition/
