@Daily_Express @ftchina Is S.America pointing the way to a new economics?

Is South America the key to a new theory of economics?
S. America was the first to suffer the devastation of Friedmanism and has been the first to reject it as a failed ideology.
Friedmanism is about siphoning all State funds into private pockets. It ignores the idea that demand may exist but can not be expressed under extreme Friedmanism, because there is no coinage available to implement the demand.
S.America, by instating a minimum wage, irrespective of Labour input, addresses this problem by enabling the demand to be expressed.
It would seem, in old labour based economics, that wealth is created from nothing. This new economics recognises that wealth is not measured in man-hours but in KiloWatt-Hrs.
If a country shares its wealth amongst its people, they supply the demand that the capitalists can supply. The capitalists can amass that wealth and use it to increase the national wealth(energy), which can be fed back to the masses increasing demand.


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