by Robert Appel
On virtually every alternative news site you visit these days—and many mainstream sites as well—you will find predictions of economic collapse and coming calamity. The bizarre thing is not that these articles exist, but rather that we have somehow adapted to them and taken them in stride. In this essay, I have set out to determine how this came about—how did one of the most developed and educated civilizations in history come so close to the economic brink?
I was especially curious to determine if the core mechanics of demand and supply, the stuff you learn in the first 10 minutes of your very first lecture in Economics 101, were still functioning as they should be…