Nobel prize-winning economist Michael Spence and co-author Sandile Hlatshwayo released a report recently concluding that capitalism is not really working out for the middle class and instead has hurt them. This report was sponsored and published by the Council on Foreign Relations (CFR), a New World Order (NWO) organization. The authors studied economic trends over the past 20 years to reach their conclusions.
Globalization and advances in technology are the two main factors highlighted in the report as helping economic advances overall with the downside of causing the salaries and pay for middle class workers at the lower end of the labor force to stagnate. The authors note, “One way to think about what is going on is that global markets are becoming more integrated in tradable sectors and functions, whereas before they were separated geographically by high transactions costs and policy barriers. When markets merge, or partially merge, there are effects on prices, wages, and incomes. Some rise and others fall. Not everyone is happy.”
They then point out that “This seems fairly clear in the U.S. economy. The most educated, who work in the highly compensated jobs of the tradable and nontradable sectors, have high and rising incomes and interesting and challenging employment opportunities, domestically and abroad. Many of the middle-income group, however, are seeing employment options narrow and incomes stagnate. Recent surveys suggest that people have doubts about the opportunities available for future generations. This may be pessimism induced by the tremendous shock of the crisis, high unemployment, and a difficult recovery. But it appears that the declining employment opportunities in the tradable sector for middle-income employees predate the crisis. Uncertainty about both the quantity and quality of the employment opportunities for this group is considerable.”
Spence believes there are no market failures causing these changes. “Multinational companies, which operate in a way that gives them access to these assets and to growing markets, are doing exactly what one would expect them to do. The resulting efficiency of the global system is high and rising. So, there is no market failure. The system is complex and constantly evolving, but the operatives in the system adapt to the shifting sands of comparative advantage and market size…”
Mr. Spence and his co-author are, in my opinion, the puppets of the NWO who are attempting, with this report, to get us to take our eyes away from the real reasons behind the shrinking of the middle class. The middle class has been a powerful force and stands in the way of the NWO having the complete control they desire. Capitalism is not failing the middle class. The policies of those who control the markets are unfairly targeting the middle class for extinction. They are using the markets, governments, and multinational corporations to re-distribute the wealth of the U.S., Canada, and Western Europe to developing countries to kill off the middle class so there can be the ruling class of the extremely wealthy at the top with the poor at the bottom who will have to depend solely on the ruling class to survive.
Capitalism is a neutral ideal that can be used for good or evil. It was capitalism that helped the top 2% rise to power and now those who have joined the NWO organizations are looking to burn down the bridge of capitalism behind them. Capitalism is what has given many churches the ability to support the work of missionaries abroad in the spreading of the gospel of Jesus Christ.
Why did these authors focus on the last 20 years? Because the last 20 years is when we have seen the various trade agreements like NAFTA and CAFTA between the U.S. and other nations take effect. These lopsided agreements were meant to bring about the results we now see. If their study went back further, the trend of a shrinking middle class would not have existed as it does now.
The report is basically a mind game that many Americans may fall for, especially when one considers that in the world of academia, professors teach college students that capitalism is bad and socialism is good. The CFR wants the middle class to be brainwashed into thinking capitalism doesn’t work so we can embrace the socialism they want to set up all over the world for centralized control of the masses and to exalt one leader for the whole world, the one we Christians call the Antichrist. I pointed all of this out in a post I did awhile back entitled Everybody wants 2 rule the world.
5And when he had opened the third seal, I heard the third beast say, Come and see. And I beheld, and lo a black horse; and he that sat on him had a pair of balances in his hand. 6And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine. [Revelation 6]
Capitalism is Failing the Middle Class, FoxNews.com, April 19, 2011.
Spence, Michael and Hlatshwayo, Sandile. The Evolving Structure of the American Economy and the Employment Challenge. Council on Foreign Relations, March 2011.
–posted by Harry A. Gaylord–