|Posted by Zane Hunker on March 8, 2013 at 3:35 AM|
Wall Street used to be described as the engine of the economy. At one time, investment fostered inovation that then created long term, widespread prosperity. These days, short term gains create prosperity for a dwindling hyper-rich few. Out with innovation, in with consolidation. It's all about how much they can skim off the top. The Wall Street of today is really the sludge that's clogging that engine. Economic activity that was once the child to be nurtured is now the carcas to be devoured.
2 main factors have taken us to this point, outsourcing and big online business.
Outsourcing has made products cheaper while creating massive job losses here in the US. Money kept from exploited labor goes straight into Wall Street's pocket. Efforts to justify this practice have been made through spreading words like "free trade" and "global economy" don't be fooled, all these words mean is "Exploiting cheap labor in terrible parts of the world in order to sell things cheaper is wonderful!!!"
Big online business is a godsend to the greedy, it allows maximum exposure, high volume, minimal physical assets and few employees which all means high profits and low risk. In terms of manpower and physical assets, Apple, Google, Amazon and Facebook are tiny. Many people consume the products of these companies while few are actually employed by them. While the economic opportunity created through the innovation of these companies must be considered in it's own right, it would be much greater if more people were employed in general.
Outsourcing and big online business are the sugar highs for the globe prancing fat cats. Meanwhile, folks are struggling. It doesn't have to be this way. We must realize the symbiotic relationship between good people, and a good economy. They aren't just units of consumption and productivity, these are people that want to build a better world.
In this world, people need to go places, they need the jobs that build the vehicles to get'em there. This is a world that values strength, integrity, hard work, risk, inovation and a real physical presence. Big factories, tons of steel and thousands of workers are all wonderful things. Many good people can go to jobs that take care of their families. These workers can afford what they build. The company cares about them so they care about the company. Profits generated by this company go back into the inovation that once again creates long term, widespread prosperity.