Kalecki thus precisely predicted the economic and political U-turn that occurred with the advent of neoliberalism. Kalecki also argued that fundamental institutional changes, especially regarding wage-setting and other aspects of the employment relationship, would be essential if full employment was to be sustained.

Economics is a social science, not a physical science.

We know that investment causes growth. But it is also true that growth causes investment.

Try this: say the words "global, global, global" aloud several times, as fast as you can. You'll find yourself sounding like a turkey ("gobble, gobble, gobble").

If you want poor people to work you restore their incentive by giving them less, such as by cutting social services. If you want rich people to work you restore their incentive by giving them more, such as by cutting taxes.

Indeed, if communist central planners could have organized the economy with as much detail, precision, and flexibility as a modern-day Toyota or Wal-Mart, communism would probably still exist.

The total dividend income declared in 1995 by the bottom 9.7 million Canadian tax-filers (47% of all those submitting tax returns) was $310 million. The estimated dividend income received by the Thomson family in 1995 from its 72% ownership share of the Thomson Corporation and its 22% ownership share of the Hudson's Bay Company was $310 million.