On February 4, 2013, Paul Krugman writes in The New York Times:
The haters love to claim that people like me view more demand, more money printing, as the solution to all problems. But of course that’s not true. Aggregate demand won’t solve a problem of low productivity, or inadequate productive capacity, or for that matter extreme inequality due to technology or market power. But it can solve certain problems, which happen to be the problems we have now.
What Paul Krugman never directly addresses, other than “extreme inequality due to technology,” is CONCENTRATED OWNERSHIP of the productive capital wealth of America and WHO SHOULD OWN America’s FUTURE productive capital wealth. Reich needs to actually address these issues in terms of using the word OWNERSHIP as that is what ties one to the property rights to derive income from the non-human factor of production––productive capital––in the form of prime corporate stock. Such financial structures are not well understood.
A National Right To Capital Ownership Bill that restores the American dream should be advocated by Reich, which addresses the reality of Americans facing job opportunity deterioration and devaluation due to tectonic shifts in the technologies of production.
There is a solution, which will result in double-digit economic growth and simultaneously broaden private, individual ownership so that EVERY American’s income significantly grows, providing the means to support themselves and their families with an affluent lifestyle. The Just Third Way Master Plan for America’s future is published at http://foreconomicjustice.org/?p=5797.
Support the Capital Homestead Act at http://www.cesj.org/homestead/index.htm and http://www.cesj.org/homestead/summary-cha.htm
http://krugman.blogs.nytimes.com/2013/02/04/money-wealth-and-models/
