Publisher's Synopsis
Are economic thinking errors leading this country astray?
Economic thinking errors and institutional poverty traps create social problems in the country. The low minimum wage does not support a most basic lifestyle and as a result, food stamps, free medical services and other social programs become necessary to cover the gap.Half of the Federal budget supports the poor and the elderly across the country. Americans, mostly the middle class, subsidize this insufficient minimum wage with their taxes and unknowingly and indirectly support the bottom line of companies that underpay their employees.Economic thinking errors are the source of our entitlement society. This complex situation is a structural problem.Democratic principles are distorted. The current political systems allows the wealthy and large corporations to covertly influence legislation and bend economic laws in their favor.Too many Americans are blinded by dreams of success and vote against their real interests and values. This is the American voting paradox, institutionally supported by Gerrymandering and voting restrictions that favor libertarian ideology.
