The “Jobs” Illusion(s) and the Work We Must Do

Politicians love to talk about “job creation.” They wallow in social illusion in order to appear to care about the economic future of the people and the nation. At the same time, they pander to the interests of job destruction, whether through automation, international outsourcing, or simply unlivable wages. At the same time, they facilitate the financialization of an empty uber-economy, producing vast sums of phantom wealth for their benefactors on Wall Street.

Political Economy of Job Loss

Many of the jobs lost in recent decades in the U.S. are due to mobile corporate capital seeking to exploit immobile pools of desperate labor in any country where wages are cheapest. The international trade agreements the pandering politicians promote, enable the mobility of corporate capital seeking to exploit cheap labor abroad. They override worker protections as well as restrictions on environmental pollution. Above all, they nullify national sovereignty over such matters of domestic policy by ceding authority to international corporate tribunals. As with other job losses due to automated production, we often hear that “those jobs are never coming back.”

One of the core values held by corporations has always been to reduce the costs of labor and materials in order to increase profits. Nobody should be surprised at that. It is an almost natural part of doing business. However, achieving business success does not require a corporation to refuse its employees a livable wage. Consider Walmart and Costco. Walmart grew to be one of the largest most profitable corporations in the world by squeezing the wages of its employees to the point where many are on food stamps. (Its purchasing power allows it to squeeze its suppliers with similar ruthlessness.) In effect, the American taxpayer is subsidizing Walmart’s profits. Costco, on the other hand, pays its employees a living wage with benefits. The difference in energy and cheerfulness between Walmart and Costco employees is obvious to anyone who visits both stores.

What Infrastructure?

Politicians also like to trumpet our need to “rebuild the nation’s infrastructure,” primarily its decaying roads and bridges. Trump emphasizes the need to modernize U.S. airports. I suppose he wants executive lounges at our international airports to emulate the decadent opulence of Trump Towers.

old-bridge

Old Infrastructure,  Paradigm Lost.

The hard-to-imagine “president elect” offers programs that would subsidize the construction industry work already ongoing, rather than directly fund new public infrastructure and infrastructure repair.

Rarely mentioned are dilapidated schools or poor teacher pay. Politicians love to characterize teachers as overpaid, lazy, and arrogant. Nevertheless, the education of America’s youth is one of the most important forms of infrastructure I can imagine. In other industrialized nations, especially in northern Europe, teachers are highly respected and well paid. Their focus is on the well being of students. Student learning consequently rises far above that common in the U.S. Should we be surprised? Education, if the heavy administrative overburden were eliminated, could be a relatively carbon neutral investment in the future.

Enter climate change. The heating of the earth’s atmosphere due to ever-growing emissions from two hundred years of burning fossil fuels continues producing now obvious catastrophic consequences. Yet political resistance and denial prevail. We ignore much of our own participation in the production of carbon emissions due to a number of complex social psychological forces.[1] The politics of short-term economic interests encourage denial and ignorance in attempting to continue on the path of fossil-fueled affluence. It follows from facing the hard facts of climate disruption that a new great transformation of the entire global economy is necessary. That is the most massive transformation of infrastructure imaginable. It is a leap into the relatively unknown. By comparison, the current talk of “rebuilding America’s infrastructure” seems as trivial as it is misguided. It seriously misses the mark when it comes to the infrastructure work that we must do.

The Climate Crisis and the Work We Must Do

Right off the bat, we might ask why such a benign sounding term as “climate change” has dominated any discussion. First, it was global warming. Then Senator Inhofe held up a snowball in Washington, D.C., as if that proved that global warming was a hoax. Gradually climate change became the dominant term. When I had used the term “climate disruption” a couple of years ago, a Sierra Club activist told that they too preferred “disruption” because “change” did not convey well the reality of climate impacts. I now prefer “climate destabilization,” which seems an even more accurate way to describe the effects of industrial civilization on climate systems. The new world of unstable climate systems requires a new paradigm. “Rebuilding the nation’s infrastructure” merely affirms the old paradigm.

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Wind Turbines in Holland, 2016

The science is undeniable, yet politicians routinely deny it in favor of providing political cover for the economic interests of their biggest donors. Those donors, of course, are the very corporations that extract and emit the carbon that warms the atmosphere and destabilizes global climate systems. The same politicians favor reducing corporate taxes and the taxes on the highest incomes, as if the income tax system were somehow abusing those powerful special interests.

The share of taxes paid by the largest corporations and the super-rich has steadily declined ever since the 1950s. Back then, taxes on corporations and the very rich were much higher, the economy was robust, and the national debt was small. In fact, the power elites get away with not paying anything near their “fair share,” as the nation’s infrastructure crumbles and the national debt grows.

Meanwhile, as politicians cling to their old paradigm and its corruption, the nation’s most urgent infrastructure need goes almost entirely unnoticed, rarely mentioned, and routinely denied. Yet, the facts require us to take action now to re-stabilize the climate systems upon which human life depends. We cannot afford not to take drastic action now. We must redirect the nation’s wealth to transform the economy from carbon excess to carbon neutral and to recapture carbon. We must be rapidly reduce net carbon emissions to less than zero by re-establishing ecological systems of carbon storage – tropical forests, for example – not by industrial illusions of “geo-engineering” symptom suppression while denying the root problem.

Deniers distort the uncertainty about the exact location of particular individual effects of global warming. They falsely claim that scientists do not really know whether climate change is real and/or “man-made.” The science of CO2 is long standing, never challenged until it became politically expedient to do so. The global climate system is extremely complex, making it far more difficult to predict an individual weather event than to document the overall trend of increasingly extreme weather, rising seas, and melting glaciers. They use variations in weather to deny the overall trend of increasingly severe droughts, floods, and storms that already disrupt climate cycles and agricultural production.

The short-term economic interests of the most powerful institutions and individuals in the nation prevail. In fact, we need institutional support to build out carbon neutral infrastructure rapidly. It has become extremely urgent, yet political decision makers largely ignore the issue. If ever a massive “jobs program” were possible, we could easily create it by executing a national economic policy of replacing all fossil-fuel based energy systems with new carbon-neutral systems of energy production and use.

Think of it. Stop production of all fossil-fuel burning cars. Build out a national network of electric vehicle charging stations while ramping up electric car production. Require all consumer products to be carbon-neutral, with temporary exceptions where life and health require them. Replace all coal and natural gas burning plants with solar and wind electricity generating systems, which are already more cost effective. Stop all natural gas and oil fracking operations; their total carbon pollution rivals that of coal.

Job losses? Well, they would be trivial in the oil industry compared to the job creation involved in the transformation to carbon neutral energy production and use. Yes, many people would have to change occupations, move to another location, and re-tool some skills. But that has always accompanied economic change. Are we not that resilient?

Continuing on our current path of carbon emissions will lead to a 4-degree Centigrade increase in average global temperatures above pre-industrial levels in the next several decades. That will be extremely catastrophic, resulting in societal collapse and may well also lead to human extinction. The UN agreements set a 2-degree limit, while acknowledging that 1.5 degrees is probably necessary. The actual “commitments” of the signing nations did not even reach the 2-degree Celsius target. The only conclusion I can reach from all this is that the people, where we live, must mobilize ourselves and begin the work that we must do. We must also pressure the institutions that are now obstacles to redirect their destructive policies toward the well being of people and planet. This is beginning to happen at places like Standing Rock, where the destructive forces of extractive capital directly threaten people. We must all find our own Standing Rock. Social movements create their own jobs. So little time, so much to do.

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[1] George, Marshall, Don’t Even Think About It: why our Brains are Wired to Ignore Climate Change (London: Bloomsbury, 2014) provides a wealth of information on the scientific basis for understanding the tendency to ignore or deny the overwhelming facts of climate disruption and its catastrophic consequences for the future of humanity.

Capitalist Culture and the American Worker

We are a Capitalist Culture. The entire course of the industrial era has been driven by capital investment in technologies and materials that together have increased economic production. In the U.S. – contrary to corporate folklore – much of that capital investment has been made by the government, often at the behest of business. Infrastructure was the primary focus. The federally funded railways were a major factor in the expansion of the West. The Interstate Highway System started by President Eisenhower, virtually guaranteed post-WWII economic growth and indirectly subsidized the boom in the automobile industry. The early years of NASA saw major new technological inventions and aerospace accomplishments by a government-funded mission-driven enterprise. Advances in the aviation industry, largely publicly regulated then, benefited greatly from those developments. Numerous aerospace corporations grew rich on government “cost-plus” contracts, all the while praising “free market capitalism” and “free enterprise.”

The allies had won World War II supported by U.S. government investment in rapid invention and deployment of new (mostly military) products, also generating full employment. The war economy produced many jobs after politically powerful capitalists forced unemployment-inducing cutbacks in the initially successful New Deal. Investment in productive assets is the driving force behind all economic development. Government investment of public capital – paid for by our taxes – has driven much of the growth of the U.S. economy. U.S. business has been a prime beneficiary of public investments over the nation’s entire history.

Corporate Capital and American Culture
Americans have come to believe that economic development has resulted only from the combination of private capital and personal invention. It is an unquestioned cultural assumption. Why? Because Big Corporate Capital now controls most cultural communication in the U.S.A. The interests of the biggest corporations dominate the content communicated in the mass media — also controlled by Big Corporate Capital. Corporate ideology is expressed in a variety of ways by twisting the ideas that would normally express core American values. The mass media implicitly support corporate agendas rather than the public interest, while sounding like they defend core American values.

A classic case of corporate capitalist culture distorting cultural values were the efforts of groups like the John Birch Society in the 1950s. Like the Birch Society, today’s Koch brothers’ front groups work to get “right to work” laws passed in most states. Who would not agree that everyone has a right to work? It is virtually a universal cultural value, closely tied to “American individualism.” However, the “right” of one person to work in a particular unionized factory or office – without joining the union or paying union dues – is not quite the same thing.

When a union negotiates with management for a living wage or safe working conditions, all wage workers in that business benefit from that negotiation. For a worker to have the “right” to not pay union dues or a fee for the cost of the negotiations that benefit him, that worker becomes a “free rider.” He or she benefits from the success of the group but refuses to pay his/her share of the costs of that benefit. Any one worker has a “right” to not contribute to the efforts of a united group of workers to achieve a living wage. But in that case, s/he should not expect to reap the rewards of that effort. Such blatant exploitation of the efforts of others is the height of hypocrisy. It is also a direct attack on the rights of all other workers to effectively bargain for reasonable wages.

Sure, one could point to some cases where a union has gained unjustified power. Unions, like any other organization, when they grow too big and powerful, tend to act in the bureaucratic interest, not in members’ interests. The teamsters under the ‘union boss’ Jimmy Hoffa come to mind as such as case . A man like Hoffa was rather similar to the likes of a Jamie Diamond or the CEOs of several other financial corporations today, who have ruthlessly exploited their positions as heads of their institutions. The main difference is that nobody had qualms about prosecuting corrupt union leaders. However, corrupt “Banksters” today seem immune to all but the mildest disparagement, no less jail time. Instead, we hear “nobody could have predicted the financial crisis,” when many non-corporate economists did just that as well as point out the corrupt nature of the behavior of the financial elite.

American Values: Minimum Wage and a Living Wage
Recent surveys make clear the American public’s view that workers should be paid at least enough to subsist – it is called a “living wage.” If you work full time, you ought to be able to pay rent and buy food, clothing, and shelter, the basics. Yet over the past several decades more and more jobs are at or near, even below in some cases, the woefully inadequate “minimum wage.” The power of corporations over the political culture coincided with the corporate takeover of the congress and many state legislatures. Wage theft is rampant in situations such as the fast food industry where workers’ power to defend themselves against abuse is at or near zero. That, of course, is where wages are extremely low and the supply of workers is much greater than the demand.

The pure apologists for capitalist culture even argue that there should be no minimum wage, so that the magical “invisible hand” of a “free market” in labor can find the “true value” of any particular job. In a civilized society, one would think, no job should be valued at less than is needed for survival. Yet many executives who have the opportunity to do so, pay starvation wages. I know small business owners who insist on paying their workers a living wage, even for unskilled jobs, when they could pay only minimum wages. But these are entrepreneurs who have consciences; they believe in the American values of fairness and mutual loyalty of employer and employee.

One retired business owner told me with great confidence that raising the minimum wage would be counter productive for low wage workers. They would simply have to spend extra on more expensive fast food because their higher wages would drive up prices. Others claim that raising the minimum wage would destroy their businesses, because their customers would not pay the difference. Most critics of a livable minimum wage claim it would be a damper on the economy. Yet in every instance where the minimum wage was raised significantly, unemployment went down as the local economy was stimulated by the increased demand.  The additional income is mostly spent on necessities in the local economy.

Conscientious employers have proven the living-wage critics wrong time and again. Their businesses typically thrive, both because of the better mutual loyalty between employer and worker, and because the business just runs smother and is usually more responsive to customers as well because the owner has a better attitude about everyone. The public knows that the employment system in the U.S. is rigged to squeeze the workers and disempower them. That is why a new movement for economic fairness and justice is growing. At the same time, growing numbers of low-wage workers are recognizing that the only way they can break out of the trap they are in is to organize themselves and protest en mass. Despite continuing massive corporate propaganda, unions may be on the rise again.

Outsourcing America, or Reviving Our Economy
In the current situation of a continuing “wage recession,” we observe corporations sitting on vast quantities of cash. They hesitate to invest it in production, since low wages have driven demand for basic products so low. Everyone knows that a low-wage worker must spend every dollar s/he is paid just to survive. Production depends on demand. Corporations send capital overseas to reduce production costs and attempt to sell cheaper goods to workers here who cannot afford them. A shrinking middle class trying to survive on unsustainable poverty wages cannot maintain high levels of consumption. The rich can only buy so many mansions and yachts. The super wealthy corporate elites park their riches in financial instruments that contribute little to the real economy that would otherwise need workers at livable wages.

It is time to reassess the entire framework of the dying American economy. Narrow short-term corporate interests are destroying the potential for capital to be invested in creating many needed jobs in this country. The nation needs to do much work in areas that serve the public interest – such as energy efficiency – providing livable wages in the process. A massive investment of existing capital in converting the carbon economy to self-sustaining energy production and conservation would require many jobs. The fossil fuel industry cannot and will not provide such jobs – they are in the public interest, not the fossil fuel industry’s interest.

The so-called free market is anything but free. Capital has been put to many uses that cost society far more than their value to society and now even threaten our survival. Capital enables and empowers social action. Only a realignment of the role of capital in the new economy can make a livable society possible.

Delusions of Democrats: Ending Obamania

It’s hard to give up on an ideal.  But the “Change We Can Believe In” has faded, even as the illusion we had hoped it was not.  The American electorate has always had a problem with distinguishing rhetoric from action.  Of course, Obama’s efforts, such as they have been, have also been thwarted at every turn by the blatantly racist Republican congress.  Great speeches, but regular capitulation prior to negotiation became his modus operandi where tough negotiations were called for.

Foolish Faith

The old Liberal Class of politicians who fought for human values and the rights of hard working Americans of all colors in a dynamic congress, is dead.  The dominant politicos of the Democratic Party are agents of their corporate benefactors, even if slightly less so than their Republican colleagues.  They vote to stay elected and the corporations pay to see that happen.

But many progressively minded people with good will and the desire to see a better America just can’t let go of the idea that if we can just get more Democrats elected, then liberty and kindness will prevail across the land.  They want to believe in Obama’s ‘liberal agenda’ and they want to have good reason to fight for Hillary so they will not have wasted their hard political work and resources.   But it is just not working.

Most claims about what President Obama has achieved miss the point when it comes to what really matters to the nation and planet at this point in history.

Illusions of Accomplishment

It’s all about political misconceptions of success and failure.  A blogger recently posted 14 “objective facts” that he offered as proof that the country is doing well under Obama’s leadership.  (See “14 Facts About the Obama Presidency that Most People Don’t Know,” jeff61b.hubpages.com )  Each one cites a source and appears quite descriptive.  But wait; there’s more.  Let me briefly explain each one.

1. “63 straight months of economic expansion.”  The Fed buying up hundreds of billions of dollars in bad debt from the Big Banks has driven up stock prices and mergers, since little of those vast sums has trickled down into the real economy.  Most “economic expansion” is in the pockets of the 1% of the 1%.  It is not being invested  in economic  production.

2.  “the longest period of private sector job creation in American History.”  Sure it’s taken a long time to create any jobs; the corporations have sat on their huge stash of cash because weak demand due to unemployment and underemployment made them afraid to invest that cash in production.  So, most of the job creation that has happened is minimum wage service jobs below the poverty line.

3.   “Unemployment has dropped from 10.1% in October of 2009 to 5.9%”  Despite the fact that the government statistics have way underestimated unemployment for decades, look at the quality of the jobs — most new jobs do not carry a living wage.  The real level of unemployment has been at least double that reported by the government.  See ShadowStats.com

4.  “The stock market continues to set new records…”  Well, the ‘funny money’ has to be put somewhere.  Instead of investing the vast sums of bailout money and no-interest loans from the Fed, the Big Banks have busily bought up each other and continued their derivative Ponzi schemes.  The inflated valuation of stocks has resulted from new money, not new productivity.  It’s not a good indicator of a healthy economy under these conditions.

5.  “The federal budget deficit is shrinking…”  Of course.  The government is shrinking, except for spending non-existent money on military adventures.  Since the Fed has brought down interest rates so low, the interest on the debt is much smaller.  And since the Congress-of-No continues to cut expenditures on desperately needed infrastructure repairs and conversion to renewable energy systems, spending has come down to match the reductions in tax on the most wealthy persons and corporations.  The nation and earth systems are collapsing together.

6.  “Under President Obama, spending has increased only 1.4% annually…”  Certainly, the Congress-of-No has prevented some of the necessary investments in renewable energy and other infrastructure that would have created many jobs.  But I fail to see that as an accomplishment for Obama.   It’s an achievement for the neo-liberal economists who want to do away with the public sector entirely.  He keeps diddling with whether to approve the disastrous Keystone XL pipeline to accelerate carbon emissions even further while failing to push hard to replace fossil-fueled energy production with renewable systems.

7.  For most Americans “income taxes are lower…”   Basically, since incomes are down, so are taxes.  But whatever the rates [kinda complicated; some up, some down, but from what base?] the rich and the corporations are still stealing the nation blind with the tax dodges congress has allowed them.  We need to return to the progressive tax system that accompanied the prosperity of the 1950s.

8.  “Our dependence on foreign oil has shrunk due to record domestic oil production…”  Another faux accomplishment.  Fracking is destroying water supplies all around the country while it generates a  short-term surge of production.   So, like excess coal, it is exported, adding to the carbon available for emission, further exacerbating global warming.   We need to reduce our dependence on ALL oil..   Obama has been on the wrong side of that one.

9.; 10; 11.  The Affordable Care Act:  “…more Americans have health insurance…”  “added years to the life of Medicare.”  “slowest rate of increase in healthcare costs since 1960…”  Obama’s signature accomplishment may have been the elimination of pre-existing conditions dodge by the insurance companies.  But, despite the fact that the majority of Americans wanted it, he cut off any discussion of single-payor universal health care from the start.   Real reform would have made Medicare permanently solvent.  The U.S. is the only modern industrial nation without universal national health care.  We spend  much more  and get worse outcomes..

12.  “‘..we have fewer people in war zones…than any time since 2002”   Well, looks like not for long…  The use of drones and assassination programs belies such arbitrary claims.

13.  “Zero successful attacks by al Qaeda on U.S. soil since Obama became president.”  Neither Cheney nor Obama can claim victory in the “war on terror.”  The U.S. fossil-fueled empire has created far more “terrorists” (most of whom see themselves as freedom fighters defending against invaders) than our military has killed — not counting innocent civilians.  In any case, the scattering of al Qaeda occurred across administrations.  Obama can, however, claim bin Laden’s assassination.  The lack of attacks on U.S. Soil is mostly due to lack of capability or interest — still a danger, however.

14.  “We…deport more illegal immigrants than ever before.” Yes, and with reckless disregard for human rights, even of those children seeking asylum from murderous thugs in Honduras and elsewhere.  Has Obama done anything to mitigate the forcing of Mexican farmers off their land by flooding Mexico with cheap subsidized GMO corn?  No, but he’s busy working on trade agreements worse than NAFTA in Asia, which will further damage the environment as well as worker safety and rights.

Eyes Wide Open

So, would the Republicans do worse?  Of course.  But that does not make bad good.  And Hillary?  Another servant of the financial elite, just like Barack and the rest of the gang in Washington.  Lipstick on a pig does not make bacon.  And its very hard to find organic bacon.

Runaway Capital and the Necessity of SLOW

Slow Food; Slow Money; Slow Life. Such concepts are anathema to the frenzied culture of the dying industrial age. But these ideas are becoming popular among a small but growing class of folks who are simply tired of ‘the rat race.’ “Slow” is closely aligned with the simplicity movement. What do they mean, why should we want to achieve them, and what’s the point?

To fully recognize the fatal flaw of the current economic path and the need for a new direction, one really must understand acceleration. Or, grasping the power of compound interest would do. With regular savings and compound interest over a working career, a worker with a modest salary could retire a millionaire. But how many do?

For that to work, the saver must also avoid debt – especially consumer debt. That is increasingly less likely as wages are squeezed for ordinary workers who are pressured to consume more with “easy” credit. Of course, “credit” is the availability of money for borrowing. Consumer debt is a burden that more than neutralizes any savings program. The debt-based economy is a complex trap.

Runaway Capital
The debt-based economy must continually expand. How else can interest be paid but by adding more money to the system? Banks are allowed to loan a lot more money than they keep in “reserve.” That new money is created as debt in the accounts of borrowers. Economic expansion is based on expanding debt. Government debt and private debt are the basis for the profit that interest rates generate as growth.

Since the 2008 collapse, the Federal Reserve loans the Big Banks money at near zero rates. It has bought the bad debt that should have pushed the Big Banks into bankruptcy. But infused with new cheap capital, banks are nevertheless afraid to lend to businesses since so little demand remains in the economy. The result is that with institutional rates so low, banks buy each other instead of lending to business.

Corporations are afraid to invest in production since demand is so low. They use their trillions horded in cash to buy back shares and drive up share prices, making themselves appear more valuable. This allows executives to ‘justify’ larger bonuses, instead of investing in meaningful production – which would expand employment, if only in Asia.

In a finite world, at some point the acceleration of growth – via compound interest on growing debt– becomes an unsustainable Ponzi scheme. It is no longer the real economy that is growing. The expanding “financialized” economy of accelerated growth of phantom wealth through complex derivative instruments keeps expanding. It is allowed because no real restraints have been imposed on the banksters who caused the crash. The fatal flaw has been covered over in imaginary cash.

This false creation of money has no substantive basis for capital creation in real life. These financial manipulations generating phantom wealth produce no real value. The consequences for the currency will be dire. The basis for the value of the dollar cannot be sustained in debt alone. That is why the Chinese are quietly unloading dollar debt instruments – treasury notes and bonds – in favor of gold and currencies with more long-term security.

Slow Capital, Real Investment
The most important problem with “Fast Capital” is that it drives financialized economic growth at the expense of the real economies of communities. “The economy” no longer fits the real circumstances of the world we live in. It was a tenuous fit to begin with. By the 20th century so little of the world was left to conquer that it had scant room to grow. Now the growth model is being tested against environment limits. But financial growth, being abstract, is only limited by debt structures.

Today the real-growth economy is restrained by a finite supply of depleting resources and its own accelerating ecological destruction. Unfortunately, most attempts to provide an alternative world based on ‘renewable’ energy and resources are framed in the failing economic-growth model. Most advocates of renewable energy and resources do not argue for a no-growth economy. Growth is a deep political value in the economic culture. Growth is seen as an inevitable requirement for prosperity – everyone is for it. It is both the essential element and fundamental flaw in the conventional model of the economy.

A new economy that is based on slow capital is now necessary. Certainly, the transition from the economy of indiscriminant expansion to a carbon neutral economy of stability will involve selected areas of real growth – and others of major contraction. In this new context, capital investment must apply technological innovation to “the old ways” of producing needed goods in creative ways. The technologies of “labor saving” overproduction cannot work. Slow production with higher quality responding to real needs will support more jobs requiring more skill and education. Slow education is labor intensive and would require little capital – it will require social commitment of slow capital.

Creating an abundant new ecological economy requires innovative thinking and experimentation, not automated extractive industry to supply overproduced useless objects. Slow capital must be invested in new technologies for effective use of more skilled labor to convert the economy to more carbon-neutral activity serving human needs, not fast capital serving financial growth for elite phantom wealth.

It is still hard for us to visualize. Our thinking is so influenced by the growth-economy culture. But the ecological economy will be slow and both intellectually and artistically rewarding. It will focus on human interaction to realize the cultural goals of achieving basic sustenance, artistic expression, intellectual exploration, and civic engagement. None of these require fast capital, or false wants for overproduced meaningless objects of momentary attraction. All those suburban storage units will not be needed. What is most required is a societal commitment to an economy driven by core human needs.