Five lessons in economics
02/04/2013 7:08 PM
02/04/2013 7:09 PM
I'd like to make five points.
1. To diminish the buying power of the middle class is to diminish the buying power of your customers.
2. The government giving money to job creators is futile. Job creators won't create jobs unless the number of customers increases or the buying power of customers increases.
3. Money trickles up and down, but trickling up is the more important. The Walton family (owners of Wal-Mart) got rich because people shop at Wal-Mart. Bill Gates got rich because people buy his products.
4. Don't forget that labor unions were an essential element in creating the middle class.
5. Greed is why people hide their money in the Cayman Islands, and both political parties have allowed them to get away with it.
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