On September 27, 2012, Jason Margolis writes on BBC News:
Presidential candidates Barack Obama and Mitt Romney pledge to create jobs, and that will involve bringing home manufacturing jobs from China. But do politicians even offer American businesses what they need to bring jobs back?
For decades employment opportunity in the United States was such that the majority of people could obtain a job that could support their livelihood, though in most cases related to a family, it required the father and mother to both work, if they aspired to live a “middle class” lifestyle. With “Free Trade” those opportunities began to disintegrate as corporations sought to seek lower cost production taking advantage of global cheap labor rates and non-regulation, as well as lower tax rates abroad. This resulted in a chain reaction forcing more and more companies to out-source in order to stay competitive (thus the rise of China, Indiana Mexico, and other third-world nations economies).
At the same time. tectonic shifts in the technologies of production were exponentially occurring (and continue to do so), which resulted in less job opportunities as production was shifted from people making things to “machines” of technology making things, The combination of cheap global labor costs and lower long-term invested “machine” costs has forced the value of labor downward and this will continue to be the reality.
Our only way to far greater prosperity, opportunity, and economic justice is to embrace technological innovation and invention and the resulting human-intelligent machines, superautomation, robotics, digital computerized operations, etc as the primary economic engine of growth.
But significantly, unless we reform our system to empower EVERY American to acquire, via insured capital loans, viable full-ownership holdings (and thus entitlement to full-dividend earnings) in the companies growing the economy with the future earnings of the investments paying for the initial loan debt to acquire ownership, then the concentration of ownership of ALL future productive capital will continue to be amassed by a wealthy minority.
Companies will continue to globalized in search of “customers” with money or simply fail as exponentially there will be fewer and fewer customers to support their businesses worldwide. Why, because the majority will be disconnected from the income derived from the non-human means of production that is replacing the need for labor workers.
Education is not the solution, though it is critical for our future societal development. But except for a relative few, the majority of the population, no matter how well educated, will not be able to find a job that pays sufficient wages or salaries to support a family or to prevent a lifestyle which is gradually being crippled by near poverty or poverty earnings.
Already, GDP growth is at a near standstill. Lowering taxes on the wealthy ownership class will not much impact this reality because they will not invest unless their are customers to create demand. This will continue to be the reality unless we reform the system to connect the majority of people to the property rights of the non-human production of products and services while simultaneously spurring economic growth, and entitle them to the earnings of capital (dividends, interest and rent) as a second income source to supplement their earnings from their labor in the short-term, with the long-term lifetime goal of earnings from capital ownership being the primary source of their income. This is the ONLY way to strengthen individuals and empower them to become personally responsible for their lives and not depended on taxpayer redistribution and national debt to sustain welfare support, open or concealed.
Americans need to reassess just what the impact of tectonic shifts in the technologies of production is having on destroying and degrading jobs. No matter how “hard” one works to earn a livelihood, they will be impacted by the troubling economic and social trends (global capitalism, free-trade doctrine, tectonic shifts in the technologies of production and the steady off-loading of American manufacturing and jobs) caused by continued concentrated ownership of productive capital.
The ONLY way to REAL JOB CREATION is to embark on purposeful economic growth, while simultaneously strengthening EVERY American by empowering them to acquire private, individual ownership in future income-producing productive capital assets and pay for their acquisition out of future capital earnings, simultaneously with the growth of the economy. Over time as individual American enrich themselves by benefiting from the full-dividend earnings of their capital estates, the overall tax base will be significantly improved and the debt can be retired, all the while reducing peoples’ dependency on taxpayer-supported government welfare, open and concealed. Thus, the emphasis and focus needs to be on OWNERSHIP CREATION, which in turn will propel economic growth and result in real JOB CREATION, providing opportunities for every American to earn income though both capital ownership and their labor.
Our leadership at ALL levels needs to address the institutions of economic injustice and address the reasons and cures for concentrated capital ownership and for unemployment and underemployment of the citizenry, especially people in their 20s and those older who have worked their entire lives and are now disillusioned. Such issues are the issues that have concerned intellectuals not only in America but now universally in the age of globalization. This is why the newer-generation leaders, who see that economic justice is a precondition for and not merely a result of political justice, are searching for a more successful global awakening.
Economic Growth with Ownership Creation is the engine for Real Job Creation.
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