Let labor eat cake

Another indicator that neither Barack Obama nor Mitt Romney knows anything about the economy. Not only do they rarely use the word “peace”, they never make reference to capital. Mr. Obama never uses it because he has socialist tendencies; Mittens doesn’t use it because it would remind people that he is a financier and not a true capitalist.

Capital has earned a larger share of income than labor. Shouldn’t the conversation be about getting productive capital into the hands of the public? Or are we non-establishment pee-ons to remain deprived of it?

About Alton Drew

Alton Drew brings a straight forward and insightful brand of political market intelligence. Alton Drew graduated from the Florida State University with a Bachelor of Science in economics and political science (1984); a Master of Public Administration (1993); and a Juris Doctor (1999). You can also follow Alton Drew on Twitter @altondrew.
This entry was posted in Barack Obama, capital, Economy, Elections 2012, labor markets, liberty, Mitt Romney, Obama, socialism and tagged , , , , . Bookmark the permalink.

2 Responses to Let labor eat cake

  1. Ronald Grey says:

    We have not yet begun to succeed.
    Form a more perfect union through 4% growth in the economy.
    Learn more: http://RonaldGrey.com/JoinMe
    LEAD the way #GREY2012

  2. Ken Ciszewski says:

    The way things are going, labor will be lucky to have anything to eat. Now on to the issue at hand.

    “Capital has earned a larger share of income than labor. Shouldn’t the conversation be about getting productive capital into the hands of the public? ?”

    Assuming the first statement is true, how do we perform the second statement in a way that is not “redistribution of wealth”, which is one thing conservatives, and I suspect libertarians, are vehemently against?

    By what processes and procedures do we get “…[more] productive capital into the hands of the public?” What that does that mean in operational terms? I always like to ask the question in this way–it takes the issue out of the conjectural and attempts to make it real world concrete.

    I’m not saying it’s a bad idea, I’m just saying that I don’t know how it would be done. Alton, please explain.

    But we need to understand that, in my opinion, one of the hidden goals of capitalist business is to capture all the “marbles” so to speak, and as a result hinder and or destroy competitors so as to come out on top.

    In my opinion, one of the reasons that capital has done so well is that it has more economic power and thus control, which it uses expand that power and control (can you say “lobbyist”, among other things?) to capture even more income. In my opinion, many (but not all) capitalists are both competitive and exploitative, and play to win at any cost.

    So we can say that capital[ists] earned a larger share of income, it appears to be true, but we have to understand how. Some of it is risk taking, some of it is innovation, some of it is to provide better products and services, and some of it is the competitive desire to crush the competition and exploit workers. If you don’t believe the last part of that statement, just look at the union busting activities that started when Ronald Reagan fired the air traffic controllers in the early 1980s and continues to this day, to the statements by the heads of Cisco and Emerson that it’s “too expensive” to add jobs in the US, even though both companies made their initial fortunes here, in the jobs outsourced to foreign countries, in what looked like bullying by the Boeing Corporation when it built its new 787 Dreamliner plant in South Carolina, bragged about it, and basically gave the labor unions in its Seattle plants the finger (of course, that backfired!).

    And it’s not only union busting. Non-union companies like Walmart have been sued for violating labor laws by requiring hourly works to work lunches, breaks, and extra hours for free.

    Yes I know, that’s my anti business rant coming out. If you disagree, show me that I’m wrong. There is plenty of evidence to back up my argument, and it goes back more than 100 years.

    So again, where is the capital going to come from to spread around to the public, whatever that means exactly, and how do we do that?

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