The basic economic question is how to fulfill unlimited wants with limited means. It is impossible of course but by careful manipulation of the resources some systems will always fare better than others. The resources available to us are labour, natural resources and, questionably, capital and they are the basis for one side of the economic equation. I say questionably because when one thinks of capital nowadays that equates to money which is a man made concept and need not exist. However, something has to exist as a form of trade and someone needs to bring the other 2 resources together so when I refer to capital I am referring to a means to do that, whether that is money or some other mechanism.

The other side of the equation will be output for wants and needs, which can also be manipulated in their own right. What we are seeing with the upsurge of neo-libralism is the generation of needless wants to maintain the revenue generated by the capitalists. Bringing together the elements required to produce is not a bad thing but maintaining this false growth in things that are not necessary is probably the first thing that needs to go. We know ourselves, from our own budgeting, that needs must always come first. Much of the output generated now is not for needs but for needlessly generated wants.

I could go into far more detail but we would then be in the realms of economics text books and I am sure you do not all want to be bored with the ways and means of adjusting all the sides of that equation. I shall only say that an equation must always do at least one thing. Be equal on both sides. If we cannot rely on resources going in, the output coming out must be curtailed. i will also add that entrepreneurship is a good thing and should not be equated to the rampant neo-liberal capitalism we are seeing now. In other words, not all bosses are bad :-) My hope is that there will be more like Elon Musk who seem to have a good handle on the whole picture.