Prices rise to absorb increases in income - Article by John Kosy
Adapted from Abstractions Versus the “Real World”: Economic Models and the Apologetics of Greed (13/2/2012) in Global Research.
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Here is a story that explains this concept. Thanks to our contributor, Matthew Mitchell, for alerting us to this brilliantly simple analysis of our current problem, originally published as a comment here. It is a skilled, yet easy to understand, critique of economic theory that underpins todays political policy and the similar adverse impact of globalisation on places as far away from each other as Bangladesh and Australia. |
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