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While Swift's proposal is obviously not a serious economic proposal, George Wittkowsky, author of "Swift's Modest Proposal: The Biography of an Early Georgian Pamphlet", argues that to understand the piece fully, it is important to understand the economics of Swift’s time. Wittowsky argues that not enough critics have taken the time to focus directly on the mercantilism and theories of labour in 18th century England. "[I]f one regards the Modest Proposal simply as a criticism of condition, about all one can say is that conditions were bad and that Swift's irony brilliantly underscored this fact". 
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Contrast that with the stock market, where individual investors are limited to a 50 percent margin. In other words, those investors have to put at least 50 percent down on their equity investments. Most put down much more. Similarly, mutual funds tend to have much less leverage than mortgage lenders, for example. Direct comparisons between the leverage underlying the housing market and the stock market is complex, but I believe it is safe to say that as an asset class, housing is far, far more leveraged than the stock market.
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