Unfortunately, ever since the 1946 passage of the Full Employment Act, economists and politicians formulating national economic policy have beguiled us into believing that economic power is democratically distributed if we have full employment -- thus the political focus on job creation and redistribution of wealth rather than on full production and broader capital ownership accumulation.
His ideas influenced King, who increasingly began to talk about the importance of jobs and wealth redistribution.
But the fourth-straight victory of the Workers' party showed that a substantial segment of Brazil's 200 million population feel they have benefited from job creation and wealth redistribution programmes such as bolsa família poverty relief payments.
As evidence, he cites the appeal of outgoing president Cristina Fernández de Kirchner, who leaves office with impressively high ratings of about 50% largely due to her focus on income redistribution and job creation.
That interference prompts American firms to expect that any new innovation needs a China strategy for production, if you believe the Andy Grove hypothesis.This only makes sense if you view the quantity and composition of manufacturing jobs as static, such that capacity growth in America can only come from a redistribution of jobs from other countries.
"Those that are dependent on government and those that think government's job is to redistribute, I'm not going to get them," Mr Romney said, describing redistribution as "an entirely foreign concept".
But she said she wanted to see more detail on "an intelligent industrial strategy" to develop industries and good jobs, as well as redistribution.
"An unprecedented redistribution of jobs, population, and wealth is under way in America, and it's likely to accelerate in the decades to come," argues Enrico Moretti in his new book The New Geography of Jobs (Houghton Mifflin Harcourt, 2012).
Those numbers are nonsense, as is his argument that the agreement would force the country to make enormous economic sacrifices and cause a huge redistribution of jobs and economic resources to the rest of the world.
The model illustrates the motivation and effects of income redistribution across jobs or occupations that require different ex ante effort or investment, and may entail different ex post risk.
