Round and Round It Goes . . .
A critic writes:
Williamson still wants to pretend, in his words, that “capital investment is where growth and jobs come from.”
It isn’t. It never has been, and the sooner we recognize that America’s prosperity came from labor gaining the purchasing power to support other people working and producing goods and services for consumption, the sooner we will be able to pry away the usurers’ death grip on the revenues labor’s work created in the first place and the sooner we will get our economy back on the right track.
And where might labor purchasing power come from? The wealth fairy? Say’s what?
Quick question for Mike Maneval: Why does the guy operating the high-tech cotton combine make more money than the guy picking cotton by hand?