On March 5, 2013, Robert Reich writes in the Huffington Post:
Today the Dow Jones Industrial Average rose above 14,270 — completely erasing its 54 percent loss between 2007 and 2009.
The stock market is basically back to where it was in 2000, while corporate earnings have doubled since then.
Yet the real median wage is now 8 percent below what it was in 2000, and unemployment remains sky-high.
Why is the stock market doing so well, while most Americans are doing so poorly?
Robert Reich gets the answer to his question right in that “productivity [due to “machines” replacing workers] keeps rising, allowing companies to do more with fewer workers” but continues to fail to tie this to the issue of CONCENTRATED OWNERSHIP of productive capital dividend and capital gain income and the word “OWNERSHIP.” Reich and other academia, as well as our leaders, should be recommending effective programs for expanded ownership of productive capital, and address the problem of education on this subject.
Today’s techniques of finance are designed to make the rich richer. None are designed to make the poor richer. That’s why the poor are poor. The reason they are poor is because they do not have viable capital ownership. Thus, we need to focus on revising today’s techniques of finance to broaden capital ownership.
Unfortunately for the non- and under-capitalized American masses, they do not have sufficient savings to risk on Wall Street gambles. And because economic growth is enslaved to “past” savings, economic growth that financially benefits the masses as private owners of FUTURE dividend-income producing and capital gain valued productive capital assets does not work. What is needed are proposals to free economic growth from the slavery of “past” savings and finance FUTURE economic growth in ways in which ordinary Americans, without savings, can acquire viable capital portfolios of preferred stock in corporations and pay for their acquisition out of the earnings (“future” savings) of the investment -produced dividend income stream.
The pressing need is for everyone in a position of influence to raise the consciousness of the America people by making the nation’s NUMBER ONE focus the introduction of a National Right To Capital Ownership Bill that restores the American dream of property ownership as a primary source of personal wealth.
This is the solution to America’s economic decline in wealth and income inequality, 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
