Two-factor economics makes it clear that our economic problem is not what one-factor (labor-centric) thinkers assert: an inequitable distribution of income. It is an inequitable distribution of productive power, from which an unworkable distribution of income results.

Most of us owe instead of own. And the less the economy needs our labor, the less able we are to "save" our way to capital ownership.

Technology has no function except to save labor. Yet how often do we hear that the purpose of new capital formation is to create jobs?

The rising productivity of labor is a myth, a statistical illusion created by measuring combined output in terms of labor input.

It is the institutions of society, not parental genes, that bestow the blessings of ownership of productive capital.

We have an economic policy that is just about 10,000 years out of date.

What have the masses been clamoring for? Jobs and welfare, and they got 'em. They've also got unions and managements like two armies converting the whole economy into a battleground with the customers as victims, except that the victims are also in the army. They think in battle terms by day and like customers at night.