. From its present narrow focus on LABOR alone (with the limited goal of "full employment") • To a new and broader focus on both LABOR and CAPITAL Under this plan, it would be basic national policy to enable every family • A FIRST INCOME from wages paid for LABOR • A SECOND INCOME from dividends paid on CAPITAL (stocks). ONE-FACTOR ECONOMIC CONCEPTS and TWO-FACTOR ECONOMIC CONCEPTS: The income maintenance hangup is, and has always been, the attempt to make one-factor economic concepts work in a two-factor real world. Let me now in half a minute explain two-factor theory: - - It is the idea that each of the two factors produces wealth in exactly the same sense: This idea is contrary to explicit It is also contrary to U.S. economic Both political parties espouse one- The various studies on economic goals Two-factor theory is contrary to While physical capital does not pass unnoticed in the western economies, we assert that its function is to enhance the "productivity of labor." This, of course, is contrary to reality If two-factor theory is sound, and if double-entry bookkeeping is the logic of a market economy, then the only way to eliminate |