That’s not an entirely accurate perspective, but you’re not far off. The problem is that fixing this requires hard decisions, and it requires people in power to act against their own interests.
You want wealth inequality to get better? You need to increase the value of labor. You do that by eliminating free trade deals, bringing production back to the west, increasing prices on goods, and severely limiting immigration. Do that, and the value of labor will soar.
You should also severely limit the ability for the wealthy to own properties to rent. One of the main reasons the middle class existed was that the family home was simultaneously shelter, and an investment vehicle.
The whole structure of investment and shareholding has to be rethought as well. Its built of the concept of infinite growth, something that isn’t possible, and ends with businesses destroying themselves while trying to meet this impossible demand.
Interesting take. But the measures you suggest to increase the value of labor will also increase the costs of goods, which would impact the working class more than the wealthy, no?
Currently, very little of the cost of goods is actually being invested back into America; offshore production funnels money to other countries and price gouging by the rich funnels money into their own pockets. While the cost of goods may go up, that money is being spent paying for domestic labor and domestic production infrastructure, creating more jobs domestically. The more jobs that are available, the more valuable labor in America becomes, which we are seeing today in the post pandemic era as many businesses are forced to raise wages beyond minimum wage to hire employees
That’s not an entirely accurate perspective, but you’re not far off. The problem is that fixing this requires hard decisions, and it requires people in power to act against their own interests.
You want wealth inequality to get better? You need to increase the value of labor. You do that by eliminating free trade deals, bringing production back to the west, increasing prices on goods, and severely limiting immigration. Do that, and the value of labor will soar.
You should also severely limit the ability for the wealthy to own properties to rent. One of the main reasons the middle class existed was that the family home was simultaneously shelter, and an investment vehicle.
The whole structure of investment and shareholding has to be rethought as well. Its built of the concept of infinite growth, something that isn’t possible, and ends with businesses destroying themselves while trying to meet this impossible demand.
Interesting take. But the measures you suggest to increase the value of labor will also increase the costs of goods, which would impact the working class more than the wealthy, no?
Currently, very little of the cost of goods is actually being invested back into America; offshore production funnels money to other countries and price gouging by the rich funnels money into their own pockets. While the cost of goods may go up, that money is being spent paying for domestic labor and domestic production infrastructure, creating more jobs domestically. The more jobs that are available, the more valuable labor in America becomes, which we are seeing today in the post pandemic era as many businesses are forced to raise wages beyond minimum wage to hire employees