On March 12, 2013, Robert Reich writes on Nation Of Change:
Despite February’s encouraging job numbers, the major challenge is still jobs, wages, growth, and widening inequality — not deficit reduction and fiscal responsibility.
We’d need numbers like February’s every month for the next four years to get anywhere close to the level of unemployment we had before the Great Recession. But we won’t get there because of the austerity policies the nation has embarked on, and the continuing erosion of the middle class.
Robert Reich continues to advocate redistribution of income earned. He never defines the reason for “widening inequality” as CONCENTRATED OWNERSHIP of productive capital asset wealth.
It is the exponential disassociation of production and consumption that is the problem in the United States economy, and the reason that ordinary citizens must gain access to productive capital ownership to improve their economic well-being. Unfortunately, ever since the 1946 passage of the Full Employment Act, economists and politicians formulating national economic policy have beguiled us into believing that economic power is democratically distributed if we have full employment––thus the political focus on job creation and redistribution of wealth rather than on full production and broader capital ownership accumulation. This is manifested in the belief that labor work is the ONLY way to participate in production and earn income. Long ago that was once true because labor provided 95 percent of the input into the production of products and services. But today that is not true. Capital provides not less than 90 to 95 percent of the input. Full employment as the means to distribute income is not achievable. When capital workers (productive capital owners) replace labor workers (non-capital owners) as the principal suppliers of products and services, labor employment alone becomes inadequate. Thus, we are left with government policies that redistribute income in one form or another.
http://www.nationofchange.org/ryan-s-regressiveness-redux-1363096321
