Economics is not ‘divided’ left and right inasmuch as it is divided up and down. Almost everybody is concerned about class and wealth, having money, not the left-right divide which is as I will outline here…
Left & Right is divided by two primary factors:
- How to make/aquire money.
- How to spend (whose) money.
The “Right” promote and encourage, believe in, a system of making money by “hard work”. Work 9-to-5, and you deserve your money. Furthermore, the Right believes the government should tax employer and employee very little or not at all (going all the way to Libertarians, which is as “Far Right” as you can get). Libertarians want a Privatized Economy, meaning, that people would need to pay for “government services”, such as privatized police, firefighters, doctors, and even Military. The problem with Far-Right economics is, a weak military, and infighting. A nation is only strong through public military, meaning, everybody pays, and pays a lot, to gain and keep Military strength. If you don’t understand this, then you don’t understand “Right” economics.
The “Left” promote and encourage, believe in, a system of making money by “entitlement”. By merely being born, you deserve your money. Thus it is Government, Culture, Society, Religion, Parents, Evil-Whitey, who ‘owe’ everybody, especially the poor. According to the Left, the poor, are poor, and will always be poor, not because of their work-ethic, lack of ability, lack of ambition, but rather out of oppression. The rich “keep” the poor down, using and abusing them. And so, based on (In)justice, The Left is less concerned with actually “making money” as opposed to Redistribution of the current economy. Thus the Left focus on high taxes, increasing taxes, government subsidies, welfare, “social programs”, social justice, etc etc.