"it the same old story, Karl Marx on the division of labor and capital."
There's that severe rightwing ideology bubbling to the surface again. Is there anything other in the war chest? In the history of economics Karl Marx wasn't the only one to use the terms 'labour' and 'capital'.
How do we organise an economy and its people so as to generate the most income and wealth for all of us with the highest social benefit? Remove the ideological blinkers and try to answer that question. The laissez faire approach doesn't work in a family or a business so we shouldn't expect an economy to work like that. So there will always be rules and involvement by government in the market. Ideology will always come into it but the pragmatic path is must closer to the centrist approach.
I'd say we have drifted too far from that centrist approach and should look for a way to return but it won't just happen by ignoring stagnant real wages, abnormal asset inflation delinked from returns and negative real interest rates forcing savers - the traditional base of an economy - to prop up the speculators. Oh, and the relentless upwarch march of debt to fill the gap. Tell me, how do we escape that.
