...near equal benefits for labor.

[edhopper]

Bill Gross, head of Pimco and one of the saner voices from Wall Street.

http://www.pimco.com/EN/Insights/Pages/SixPackin.aspx


"Ultimately, however, both labor and capital suffer as a deleveraging household sector in the throes of a jobless recovery refuses – if only through fear and consumptive exhaustion – to play their historic role in the capitalistic system. This “labor trap” phenomenon – in which consumers stop spending out of fear of unemployment or perhaps negative real wages, shrinking home prices or an overall loss of faith in the American Dream – is what markets or “capital” should now begin to recognize. Long-term profits cannot ultimately grow unless they are partnered with near equal benefits for labor."

[dtexdem]

1. A plutonomy just doesn't work.

But try telling that to the plutocrats.