Economy is named by Aristotle in his work by the same name. The theory is, and this is something, I believe is truly right, that a nation is like a household. In fact you can look at each level of the society, and the same basic mechanisms repeat on each level. In a family you have to have a family that is organised, and has some arable land, (in the time of Aristotle Athens was basically an agrarian society). An arable land, that could produce a certain amount of fruits of the earth, that could be sold at the market.

The same goes with the community and today with a nation. The production of elements that can be sold at the market is what defines the richness and abundance of a society.

So, the basic tenent is the rock bottom on which the Aristotelean/Obamanomics idea lay upon.

This realization has changed the dynamics of economic investment quite a bit in the Anglo Saxon world, both the UK and the US.

But the problem is, that even though we KNOW how it works now, changing the dynamics is REALLY difficult.

Outsourcing has diminished, but getting the American companies to return the production to the US seems to be really difficult.

One of the things, that seems to be the problem is the fact, that it is much easier to produce things in China. You don’t have to worry too much, and labour protection is non existing.

Capital don’t care much about human rights, seems to be the idea.

So in essence, what we need to figure out is a way to make our own production comparable and competitive up against the labour intensive and cheap production companies of China and the far East in general.

This is the SECOND part of the Aristotelean book economics. That is all about the optimisation of the way we make a family produce products. Remember, Aristotle has this idea, that on each level the same basic mechanisms are repeated.

Anyway, I am going to write a book about that, so this is really my next project, that will be reflected here on the blog.

HOW do we, as a civilisation, become better at making things?

We can still do it, we make a lot of high quality things, competitive items in the west, but we need to be able to compete with the far East on our own premises, to make a viable future for ourselves.

We can do this, but it requires us to take up the challenge.

G-d bless the will to compete on equal terms with China and the far East.