The problem as I see it right now is that capital-holders are treated very well because capital can slip through borders, while labour is a bit more tricky, because it comes with the implication of having an extra person around...
In an open border world, the balance would be more equalized, but that is more theoretical than practical at this point.
The recent rounds of QE are a great example of this. Those were basically made to inflate asset prices for capital-holders, because economic policymakers are conditioned to placate capital. Case in point: 90% of shares in public markets are owned by 10% of Americans. The hope was that some of this benefit would trickle down, as the infamous term goes---unfortunately that hasn't happened, so far.
So now we live in unequal times not seen in America since the late 20s.
There's a couple of ways to go about resolving this, from heavy handed government intervention to restrict capital, to loosening government restrictions on labour movement.
There's outside the box thinking too, from how Iceland forgave those holding good homes rather than those holding bad debt to opening the pool of capital to a wider pool of people in the vein of equity crowdfunding---
this is a very pressing issue, and there are tons of solutions out there. I think the one constant is that if technology is going to play a role in solving this, people need to be given equal access to that technology, and the knowledge required to understand it. discuss and spread code!
In an open border world, the balance would be more equalized, but that is more theoretical than practical at this point.
The recent rounds of QE are a great example of this. Those were basically made to inflate asset prices for capital-holders, because economic policymakers are conditioned to placate capital. Case in point: 90% of shares in public markets are owned by 10% of Americans. The hope was that some of this benefit would trickle down, as the infamous term goes---unfortunately that hasn't happened, so far.
So now we live in unequal times not seen in America since the late 20s.
pre bust: http://www.nytimes.com/2007/07/15/business/15gilded.html?pag...
post bust: http://finance.yahoo.com/blogs/daily-ticker/income-inequalit... (big ups to Shiller)
There's a couple of ways to go about resolving this, from heavy handed government intervention to restrict capital, to loosening government restrictions on labour movement.
There's outside the box thinking too, from how Iceland forgave those holding good homes rather than those holding bad debt to opening the pool of capital to a wider pool of people in the vein of equity crowdfunding---
this is a very pressing issue, and there are tons of solutions out there. I think the one constant is that if technology is going to play a role in solving this, people need to be given equal access to that technology, and the knowledge required to understand it. discuss and spread code!