This video discusses the trends in 2014. They are a little different today. The Trump economy has had one very good quarter. Wages are rising in some spots (not enough to affect the aggregates). If we get a second quarter of good growth – the numbers will be coming out in October – I expect wages will start rising enough to affect the stats. Just as they did in the dot com era. A year or two of this kind of growth and wages will definitely rise. Significantly.

Another thing that will help long term is reducing the strangulation of government regulations. Do you have any idea how hard it is to start a business? How many regulations you get subject to once the business moves out of the garage, basement, or kitchen? Hair braiding in some places requires 1,500 hours of “education”. It is a racket. A racket to reduce competition.

His idea of a $15 minimum wage is not bad. If businesses volunteer to pay that. They are a very bad idea if government forces that. Businesses that can’t afford $15 will fold. People who were working will lose jobs. A growing economy will fix that with no government edicts. McDonalds raised wages during the dot com boom. Because employees were hard to get. Exactly what Trump is engineering.

The author does get the problem – the desire to take as much as you can get. Beyond mere greed into avarice. I’m not sure of his solutions. For moral capitalism you need a moral people. We are missing that. The old religions are falling and no new ones (of significance) have arisen to take their place. We had some promise of that in the late 60s and 70s. You can get a mystical experience from a pill. Which sort of says religion is built into us. But it has to be activated. With the old methods it took years of training and effort. It still does. But you can get a very good start with a pill. That start was rare in the old systems. You more or less had to get lucky.
 
 


( About 21 minutes )

The first ten minutes of the video where he discusses the problem is interesting. The last ten minutes where he says economies can be improved by government fiat is insane. If a $15 minimum wage is good wouldn’t $50 be better?