By Slim Wolfe
From the President on down to the economics prof at the local school, they’re all making verbal capital out of the economic crisis and the imminent death of the middle class, but maybe it’s time to define our terms. Economic crisis might be defined easily, as when people are reduced to eating ground tree-bark and scavenged weeds, as, say, in the American south after the Civil War, or in rural China after the cultural revolution. Another example would be during the German siege of Leningrad when boiled wallpaper glue was a staple of many people’s diet. Having to let the cleaning lady go, or downsizing from an oversized house in the suburbs doesn’t seem to me to qualify as a crisis, though it might fit the euphemism “course correction.” According to the high priest of the free market, the gods of capital will occasionally deign to descend to our mortal plane and show us a better way.