Archives From The Richard H.. Clark Page
Richard H. Clark
posted Nov 13, 2008 2012 Independent Presidential Candidate NAIP www.MiddleClass2008.com /Columnist BNJ
(Yes, I know. I need to update my domain name!)
Why do we have poverty and unemployment in the USA?
Why so much misery here at home? It is very simple, really.
I will tell you, and it is not what you think.
It is the fact that Capitalism doesn't work when employment hits 100%.
Capitalism works just fine when people compete for jobs. This keeps
wages low, which keeps prices low, which keeps inflation down. "Just
fine", however, is arguable because of the misery it causes, but the
concept of Capitalism itself functions just fine. People might not be
all that happy, but the system is stable. Our monetary system is another
matter, and that part is inherently unstable. But that's another topic
entirely.
Back to Capitalism... now imagine 100% employment. Imagine employers
competing for workers. Annoyed with your job? Instantly go find a new
one. Employers everywhere are paying top dollar for your labor. People everywhere are fat dumb and happy. Sounds great, doesn't it? It would be, except that it's not stable. Wage increases to attract and retain workers cause price increases, which cause more
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