Is this a good time to start re-evaluating everything
Could it be said academic economics have failed. Not because there is anything wrong with the art of economics, but that economists are so wedded to theory that they are ignoring the basics.
Where does a town grow in a place where resources and communications make it an advantageous place to live. In economic terms cheep. Why are economies failing? Because economists and the governments they advise are making ordinary lifestyles too expensive in the developed world to compete with the rest of the world, and the markets are not developed enough in the rest of the world to replace the failing developed markets.
The solution put forward by governmental bodies is to drive down the wages of the average people in the developed world. However this damages the markets in the developed world, as consumer spending power is directly damaged, and also it damages governments because it affects the government’s ability to tax, and thus provide the developed markets infrastructure. Governments have borrowed to support their own markets, but in the downward drive they are arriving at the stage where they will be unable to increase the borrowing because they will not be able to pay it back.
Is there anybody here that would disagree with the above, if so please say why.
Could it be said academic economics have failed. Not because there is anything wrong with the art of economics, but that economists are so wedded to theory that they are ignoring the basics.
Where does a town grow in a place where resources and communications make it an advantageous place to live. In economic terms cheep. Why are economies failing? Because economists and the governments they advise are making ordinary lifestyles too expensive in the developed world to compete with the rest of the world, and the markets are not developed enough in the rest of the world to replace the failing developed markets.
The solution put forward by governmental bodies is to drive down the wages of the average people in the developed world. However this damages the markets in the developed world, as consumer spending power is directly damaged, and also it damages governments because it affects the government’s ability to tax, and thus provide the developed markets infrastructure. Governments have borrowed to support their own markets, but in the downward drive they are arriving at the stage where they will be unable to increase the borrowing because they will not be able to pay it back.
Is there anybody here that would disagree with the above, if so please say why.
