3.ECONOMICS

3.1 What is Economics             

Did You Know?
New-classical economists believe that, to develop, countries must liberate their markets, reform labour markets, privatise state owned industries, encourage entrepreneurship (risk taking).

3.2 Economics and Society—Capitalism and Socialism                    

Did You Know?
Brutal dictators and authoritarian regimes often cite Karl Marx’s ideas to substantiate their actions.

3.3 Economic Inequality                  

Did You Know?
The influential economist Milton Friedman stated that the world runs on greed. In the USA, Crony Capitalism has resulted in 1% of the population now owning 40 percent of its wealth; that is 3,33 Million people out of a population of 333 million. Much of this wealth is owned by corrupt Elites who use it to further economic inequality.

3.4 Economic Manipulation by the USA                 

Did You Know?
The USA has recently spent $4 of stimulus debt produced by the printing of Dollars, to produce $1 of GDP growth. This debt being $185 trillion which will never be paid back.

3.5 The result of economic polarization             

Did You Know?
In Communist China, 40 million people have been killed as a result of communist dogma. However, it is still an elitist society, with 0.1% of its population owning as much wealth as that of 50% of its population.

Did You Know?
1% of the world’s population now owns 50% of its wealth; that is 7 900 million people, out of a total of 7.9 billion people.

3.6 Offshoring of Jobs             

Did You Know?
Approximately 300 000 US jobs are outsourced each year.

3.7 MMT                 

Did You Know?
Modern Monetary Theory has been debunked everywhere except among government big spenders.