Balancing Income, Consumption, Products, and Services in the U.S.A.
Would history occur without continual economic changes? For each change in society, in all societies and times, a renormalization of the economic balances plants itself before the general public and the government. Sometimes, especially when wealth increases, changes are easily absorbed, while other changes require a renormalization to a depression economy. Knowing this, we must look for not only causes, but furthermore, ways our economy provides us with tools for easing the pain of changes.
Note: I will discuss international (state to state) renormalization in future articles. The discussion here involves internal economic interactions and their affordability to different segments of consumers in America.
Renormalization, which will occur whether we like it or not, is rarely discussed. Few tools are available for societal changes in wealth due to the feudal aristocrats having no interest in improving the life of the average citizen. The main tools of economic flow seem to be the Federal Reserve adding or subtracting money (the representation of wealth) to the economy and fiscal policy of the government. Certainly not something that will balance personal transactions like hiring a plumber. In fact, hiring a plumber will provide many examples of normalization.
One of the first activities is finding a method of measuring the current status. I hope someone will write a doctorial thesis on measuring techniques without involving political overlays. A political overlay would be the belief of using overseas labor as it is less expensive and the need to be more profitable using overseas labor. Or the insistence of the wealthy that corporations exist only to maximize profits. In other words, most ways of understanding a norm involve an emotional content obscuring measurements of the economic flow. I hope someone will establish measurement systems banking and government decisions can be based to achieve a working balance of Income, Consumption, Products, and Services for a post feudal society.
A post feudal society is a direct result of education enabling the average citizen to be more in control of economic flow. The last time the middle-class decided "things" was the period after WWII. By the 60's the feudal aristocrats started to regain control. Nevertheless, the number of educated people has increased to where the top-down control of the economy needs to be renormalized to middle-class control and to the benefit of the average person.