The Visible Hand # 2

One theory (addressed below) is that all European countries believe they can export their way to prosperity. Another theory -- which Michael Hudson sets forth -- is that European governments plan to impoverish their working classes, presumably because they want to break the power of ordinary people, make them so miserable that they will be unable to demand anything.

I know there are third world countries which have a rich ruling class, a small middle class and a vast underclass of desperately ...