Wednesday, November 28, 2007

Is America Slipping into the Third World?

I have mentioned elsewhere that Carlos Slim is the world's richest man. He lives in Mexico, a Third World country. The Nov. 24, 2007 issue of the Wall Street Journal had an article about the Anil and Mukesh Ambani brothers being worth almost $100 billion together. They live in India. We can see there is great wealth in the Third World, but it is concentrated in the hands of very few people while the Middle Class is very small.

The same is happening to America as more wealth is concentrated in fewer hands while the Middle Class is being squeezed out of existence. Is America sliding into the Third World? It might be.

The answer is Confucianism, which teaches that the wealth of the entire community is important.

The Wall Street Journal article is "All in the Family: $100 Billion" by Eric Bellman.

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