Economic and Social Implementations for the Post Adam Smith World
- Engineering solutions for positive results on the other side of coming social and economic changes -
by Richard Pearlman
Changing just one part of our economy creates ripples throughout the rest of our economy and society. Without recalibrating the economic strata, not only the distribution of wealth, but further to decide what should the value of an hour's worth of work -which would also involve the cost of things - too many distortions occur with the most common result being the concentration of wealth to the already wealthy.
Recalibration must look at the total wealth of our economy - as well as the world's wealth - and decide what is the most efficient use of the wealth to improve and maintain a desired quality of life.
This category looks at the overview and minutia of recalibrating America. Today America - tomorrow the world.
Most of the world's infrastructure was buily with "low-cost" labor. The recalibration issue: can infrastructure be built with middle-class wages. In other words, paying a middle-class and above wage rates be affordable to the middle-class?
We see the results currently in the new toll roads in Florida that not only charge high tolls, yet are not making a profit or even enough money for complete maintenance.
More to come.