The key to recovery is jobs and income. Real income must increase across a broad cross-section of the country – unlike the past decade or so when income and wealth became concentrated to record levels.
This means there must be structural change, which entails the unleashing of entrepreneurialism on a broad and meaningful basis and the reallocation of assets, including credit, to more protective entities. The big impediment, as usual, is government. It needs the most reform.
— Bill King, The King Report
According to Austrian economics full employment is not really a difficulty. When India and China were face with dire poverty unemployment wasn’t really the issue. Instead they suffered from primitive production methods which are both a cause and consequence of a shortage of capital. Hitler had full employment with his armament program. The focus should, as always, be productivity.
Catherine
The problem is the mentality of a large part of the nation. The last two generations developed a mentality of wanting it now and quick. Another attitude developed over the last two generations is that vocational schools is for losers. Our grandfathers built this nations wealth by producing and building new industries only to see their children and grandchildren destroy the wealth. The children and grand children became consumers in service related industries, while the industrial base moved to China, Korea.
I admit as gen Xr for a long time I expected an easy and comfortable life but in the past several years I started to reflect and change my behavior. If we are going to save the USA then a change of attitude in this country is needed.