On Sunday, March 3, 2019 at 7:28:08 AM UTC-7, Chris L Peterson wrote:

Full (or near full) employment is necessary for the sort of economic
system we have. But full employment does not mean a healthy economy.
Slave states have full employment. And indeed, what we have borders on
that, with a large sector of our economy not being paid a wage
commensurate with their input to the economic system or a wage high
enough to live on properly.

What is required is full employment with a reasonable income. We lack
that.

(1) We will NEVER have full employment because there are those satisfied
with what they can get without working.

(2) "Reasonable income" is highly subjective. Some consider having
a mansion is "reasonable" while others are satisfied with a cracker-
box house. Some enjoy partying, others are hermits, and others want
to support worthy causes (and that's also highly subjective).

(3) In a society where goods are limited, there is ALWAYS a system
for deciding who gets what. In our society, it's gelt. Under
communism, kings and dictatorships it's the rulers. Under European
socialism it's ultimately the people, but de Tocqueville's
criticism of democracy still applies in the long-run because the
majority of voters will want more than is available. Yes, people
are greedy, and the best system to handle that is capitalism.

The BIG problem with the US economy is that it's debt-driven and
people are financially stupid. People get deep in debt and become
slaves, but ANYONE who cannot provide for their own necessities
is a slave to those who DO provide them to him. This is true for
governments, too.

The education systems has aided and abetted this stupidity. In the
US the best way for most people to get ahead is to have their own
business, but how to do this and how to be financially prudent
isn't taught in the public school systems. Furthermore, local,
state and federal governments inhibit would-be business owners with
excessive red tape (sure, in the interests of public safety, etc)
but schools could do more about helping people navigate these
obstacles, too.