That's OK in a steady state world where little changes, but that's not where we are at. We are in HIGHER PRODUCTIVITY WORLD ~ and more and more mechanization, automation, computerization, robotics and improved work methods are cutting costs of operations in every field.
We just don't need as many workers to make anything. We will, within decades, be the world's lowest cost producer ~ and the real question isn't pricing but employment ~ so what do we do?
I"ve proposed a crashprogram to turn this into an OWNERSHIP SOCIETY where the primary source of employment consists of top end management ~ with stockholders, bondholders, and so forth.
The days when we could afford a thin film of 1% owning all the good stuff are over ~ and certainly the time has passed for Gub'mnt ownership ~ that's just one owner stuff suited more for the Dark Ages than modern times. We need to spread the ownership bundle ~ somehow.
I think we are moving towards an economy of independent contractors, where the familiar roles of employer and employee no longer apply to 90% of the workforce (non-government).