Tuesday, October 28, 2014

Capital is afraid of their own economic system

The response to HRC's recent comments regarding who creates jobs has been interesting.

http://m.wsj.com/articles/BL-WB-50148

In a market economy, consumers create jobs. Business does everything in their power in order to not create jobs (e.g. raise productivity of current workforce), as labor is a major expense, and is only forced to when demand overwhelms capacity. I thought this was market economics 101?

She was posturing, trying to fend off Elizabeth Warren, to be sure, but capital is so afraid of this basic fact (which at least in theory gives the rabble some power) it gets buried in hyperbole. 

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