Where to Get Jobs ?

There seems to be a growing clamor for a jobs program. For large swaths of the American population, steady employment is dream of yesteryear. Wages are 'too high' here, and interestingly, the class struggle has played out to the point where long-term private sector growth can only come through technology driven productivity gains.

Labor in 'Asia' is cheap and plentiful. So while the West still has the capital, there is little reason to invest it here when profit rates are much greater elsewhere.

Capitalism can be defined as a system in which private capital controls the chief modes of production in society. Small-letter capitalism has existed for much longer than Capitalism. One can see a scenario in which the private sector is unable to fulfill a dominant production role in OCED countries, and where government takes over entire developed industries that have reached a stage of zero profitability. In this scenario, Capitalism might fade once again into capitalism. But this is just a scenario.