The current economic crisis was not created by workers. But they are paying for it. This financial crisis was not about too much government, too much regulation, or wages being "too high". As The Economist said this week in its leader - financial markets were 'plagued by poor regulation, dangerous incentives and the reckless use of mathematical models". There were some underlying factors such as falling productivity and low wages that pushed investment towards high risk financial products and households towards high levels of debt. But the causes of this crisis are now clearly seen as due to crazy levels of leverage, completely inadequate supervision of the finance sector and shameful exploitation of low income households using highly dubious financial products.