I first read the Post from Tyler Cowen, then went back to the article by Paul Krugman. Both decided upon collective solutions to the Process they describe, but I find a lack of efficiency in this Outcome. I agree with the Krugman concept of ‘hallowing out’ of the middle-Income range, as does Tyler Cowen. Paul suggests reintroduction of the power of Unions will bring Relief, which Tyler and I doubt. Tyler advances a Concept of legal defense of intellectual property, which I have read Today could be considered a Socialism of Ideas; granting the right to channel Thought and charge for it. None of the above ideas appear to be any great help in preservation of Income for the vast majority of Us.
I ponder on the entire Issue, and come up with several ideas for which I am assured I will be vilified for even contemplating; a perfect position from which to start in this assessment. My first idea is the Guaranteed Work law passed by Nation or even State. It simply states that all Items for Sale in the given jurisdiction must be assembled or packaged, one or the other, within the jurisdiction it is sold. Business will automatically claim vast Production Costs deriving from such a law; my retort being that outside of labor Costs, there would be very little additional Costs, due to the lower, more concentrated capacity of bulk Shipping with less tonnage requirement. The ‘hallow’ immediately fills as Business searches for qualified Assembly and Packaging technicians within the jurisdiction of Sale. The Wages demanded would be the Wages necessary for a Living Wage within the area, and Income justification would appear without overt Government attempts to narrow the Income Gap.
The second idea stands in the area of education. It consists of a actual Scaling Down of the current high standards of educations, for a sounder base of certified Skills. It would require High School Students to test out as qualified Apprentice technicians in at least two fields; I would suggest Carpentry, Mechanics, Truck Driving, Lab technicians, Plumbing, Secretary, Cashier, Cook, Baker, maybe even Candle-Stick Maker. I give only a minor range of potential Apprenticeships which can be devised, but requiring passing of at least two qualifications places the Student in far better position in the labor markets, even if they go on to a college education. Such a mandatory requirement has long been necessary.
The focus of my concentration is toward actions which will basically decentralize the current economy, and break the extreme power of current Business leadership to order our lives; often in ways which are hazardous to our Standard of Living. I know that such ideas will be in for vast criticism, but I believe there will be little actual economic grounds to proclaim higher Production or Distribution Costs. Only Time will tell. lgl