Can anyone proffer an ideal set of economic principles?

Question

Can anyone proffer an ideal set of economic principles?

Answer 1

Yes, here we go:  'Live within your means'.  This applies to individuals, families, corporations, councils and governments.  

We are in a mess at the moment, because of the credit crunch.  I saw this coming a few years ago, and I am not even an economist.  The bubble was always going to burst.  I blame the western governments for not standing up to maverick bank employees who offered credit to those that aren't worthy of it.  What did they expect?

All the while governments are in the pockets of big business, we will have these destructive boom and bust cycles that only benefit a few in the elite.

Answer 2

Yes, just talk to the leader of whichever political party is not in power.  They will always know all the answers until, of course, they are in power, then for some reason they tend to forget.  Get your question in now before they become the leaders and they forget everything that got them there.