Unfortunately, there are many elites that misunderstand or mischaracterize their own economics. The over-reliance on what can only be described as modern day feudalism where abusive socioeconomic labor practices and conditions are subtle enough to make Horatio Alger stories so convincing.
In fact the sort of capitalistic practices in place are overly predatory, wasteful, and seems to promote more discontentment than contentment. So obviously we should take a harder look at this. Mike, your synopsis here is a plausible preface for basic universal income or guaranteed minimum income(GMI). Thoughts?