[Eric]

There are several versions of simple economics. As you guys and I live in a consumer society, it should go something like this: the strength of the economy is based on consumers (the population as a whole) consuming the products of industry and the services that are provided. There is something called the "multiplier effect" which goes something like this: a high percentage of what people earn is spent in consumption. This spending goes back into the economy, fueling its stability and growth. Simple. Keynes and Galbraith would back me up on this.

And then there is the right-wing simple economics. This exports well-paid industrial jobs to areas of the world where wages are pitifully low, hours long, unions illegal, and worker safety legislation non-exisitent. Meanwhile, back home, the well paid jobs are replaced by minimum wage options (can you flip a burger?), easy credit (NINJA loans), and the dole (which is always in danger from government cut backs). The wealthy, individuals and corporations, line their pockets and escape tax through loopholes. The right wing governments justify this by claiming that there is a "trickle down" effect (Ronnie Raygun believed this; but what can you expect from someone who played second fiddle to a chimpanzee.) ... this means that the great mass of the population survive on crumbs.

But seriously folks, as the student protests are beginning to show, the shameful inequalities in the distribution of the national wealth is the major problem the world will have to face in the near future.