Peter Schiff, New York investor:
Some people got stranded on an island. Six Asians and one American. And as soons as they got stuck on the island they had to divide jobs among themselves to stay alive. One Asian got the job of fishing, the other one hunting, one got the job of gathering firewood, etc. So they all had jobs, the American was assigned the job of eating. At the end of the day they would all gather around to prepare a feast. The American would sit down and eat it. But he would not eat it all, he would leave just enough crumbs to give to the six Asians so that they could start all over again tomorrow making food for him. Now, modern economists say: 'Look, this American is vital for the whole economy on the island. Without him nobody would fish, hunt or gather firewood, make a meal, etc. So he is creating all this employment on the island.' But the reality is that the life of every Asian on the island would be dramatically improved if they kick this American of the island, because than they themselves would have a lot more to eat and they would not have to work so hard, but could now lay down on the beach to enjoy the scenery.
http://www.youtube.com/watch?v=4n3g5lUgkWk&feature=related
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