by Russ Gressett In the world system’s economy, and in the study of economic theory in general, one of the first and foundational precepts or laws is this: As income goes up, consumption goes up. This is one of the primary predictions or building blocks proven out over time that modern economic theory counts on to be true. Without that precept operating, the rest of the world system's economic theory would fall apart ... and it would do so at a very high rate of speed. We see this ... Read More