Or, we would have had a lot more spending from the lower classes, and our GDP would be even higher.....we don't know, do we? It's easy for people like us that don't spend all day working on this stuff to dismiss it, but again, this is theory (on which super smart people disagree), we just don't know for sure. I tend to think that many of the philosophers of the 16-18th century, upon which we have based our belief that some government is necessary (and upon which much of old school Christianity is based, that is, we need rules or we'd totally ruin ourselves), is still true. I think there is a need for government regulations against child labor, slavery, and other things that are basically allowed under a free market economy. I think, though I am not sure, minimum wage laws are needed.