Here are a few responses to the comments by Jean-Christophe Helary.

I suggested that less use of capital would lead to greater use of labor. He notes that GDP per worker-hour is greater in the US than most other countries.
Wouldn't that fact undermine my argument?

No, not necessarily. Output per hour worked is a measure of labor productivity. If the US substituted labor for capital, there would be both more employment AND more output.

How does giving back profits to shareholders increase personal income? Because personal income includes wages, dividends, interest receipts, and rent.
Dividends are a form of personal income.

I noted: Today's 70-year old is as healthy as yesterday's 50-year old.Health care costs are rising for everyone, not just older people.

Helary asks: Why is that ? Why would a healthy population generate higher health costs ?

The answer seems to be that new technology creates opportunities for improved medical care, but at a cost.
People are willing to pay the price. In the same way, technology has produced more opportunities (services and products) in telecommunications. People are spending vast amounts on their telecommunications bills to enjoy (presumably) these products and services, even while the cost of an individual telephone call or internet account has fallen drastically.

Arthur Alexander