Abundance Is Not Profitable
Our technical potential to achieve abundance has been stymied by our institutions. Although there have been amazing advances in technology and production methods, it is not in the interest of employers to pursue full employment or abundance. Chief among the institutional barriers is the shift from use value to exchange value of property. Since reform of property rights is unlikely, we need to create an array of nonprofit institutions to fill the gap between actual and potential output. Employer-of-last-resort proposals should emphasize output that would be created by the employment.