Interest rates, energy prices are fine. Inflation in earnings is not under control. And global competition has driven down prices in cost of production, true. However, That's not necessarily true when it comes to what they are selling the products for. Also it is undercutting industrial jobs which were former sources of lifetime employment and retirement plans. In the 80s we went all out on trickle down and while we have moved away from it, the wealth and power gained during this time still lasts. The income gaps are becoming wider, so the jobs picture is obviously not helping close the gaps. CEOs now generally make 300 times more than their average employee. It was something like 36 times more in the 70s. We have no choice in matters. If you want to make any kind of living you are forced into subjugation of people with all the power. Tons of well-regarded economists are on record saying a true capitalist market is doomed to fail. It affects the politics, but I'm on mobile I'll reply later.
I also graduated from the business school at UTK. Since graduating I have had the opportunity to work in both large private and large public companies.
I will agree with you that wages have not kept up with inflation and that globalization has driven manufacturing jobs to other countries. I will also agree with you that CEO pay has outpaced mean compensation.
I disagree with you that items are getting more expensive. By almost all measures, items are cheaper today than they were in the past. From clothing to computers, we spend much less on those as a percent of income, mostly because they got a whole lot cheaper.
I disagree with you that if you want to make any kind of living you are subjugated to people with all the power. I'm not even sure how you've been led to think that. Maybe you can explain further.
Additionally, it's easier than ever to start your own business and do your own thing. Capital is easier to access and unlike anytime before, a novel service delivered through the web can reach an audience cheaper and faster than ever before. And no real material input is required.
Finally, of the things I agreed with you, I see them as an issue. A roadblock at best to success. No government redistribution program will solve those issues. Those issues are caused by the government - not solved by the government.
Want a more competitive wage environment? Then seed the environment in a way that encourages (FULL TIME) job creation. When openings outpace available candidates, wage inflation occurs.
Capitalism is not doomed to failure. Look around at today's world. Look at history. Capitalism is the most humane tool to lift the boats of all who participate. The system isn't broken. It's being ruined by government.
