Economics is Taught with a Left Wing Bias

1-2% GDP while China is doing 7% is a disaster!!!

"Despite major increases in productivity, the median male worker in America today is making $726 dollars less than he did in 1973, while the median female worker is making $1,154 less than she did in 2007, after adjusting for inflation."- Bernie Sanders


“The problem is, 80% of the American people are still living on what they were living on the day before the [2008 finnan*cial] crash. And about half the American people, after you adjust for inflation, are living on what they were living on the last day I was president 15 years ago. So that’s what’s the matter.” -Bill Clinton

 

When I first went to college I wanted to major in economics, but it was so ridiculously left-wing and mind-numbing I switched to accounting. It was only after college that I found out about the Mises Institute and Austrian economics. I really wish I had known about them when I was 18.

 

I think you're right. My nephew tried college in NYC. He said he absolutely had to take the liberal line on tests or fail. The professor was such a true believer in his own liberal BS that he did not consider any other POV.

 

It really wouldn't matter if you knew about them at 18. Only couple degen schools teach that Austrian trash.

 

Austrian is capitalism, an economic system that just eliminated 40% of the entire planet's poverty when China switched to it.

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Austrian is capitalism, an economic system that just eliminated 40% of the entire planet's poverty when China switched to it.

 

You're making stuff up again Ted, lmao!!! China literally has nothing to do with Austrian economics. In fact they adopted our old philosophy. Massive government expansion and building infrastructure and jobs.

 

here are three book with which you can begin your education on China:

"Capitalism With Chinese Characteristics"

"How China Became Capitalist"

In his new book titled Markets over Mao: The rise of private businesses in China, Lardy argues that even though SOEs still enjoy monopoly positions in some key sectors in China, such as energy and telecommunications, their role in the overall economy

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China is switching to the Austrian free market and in doing so has already eliminated 40% of the entire planets poverty

 

No one is using Austrian economics in the developed world Ted, lol. But you can make up whatever you want. I realize that's just what you do.

 

You know, I really can't fault you for your bias.

But try to heed the words of a person that entered behind the Communist iron curtain.

If you were a citizen living as a Communist, your life was ultra drab. Hopeless is almost how to report it.

If by chance you own a home, you would have lost that home to the Soviets. If you started a business, you would have lost it to the Soviets.

Look at the vast improvement in China since they became capitalist!

They now live like civilized people.

Russia is vastly improved.

East Germany is no longer but has also vastly improved as it reunited with Germany.

There is no defense of communism had you really had been there.

You may think the people were in charge but no way, dictators were in charge.

 

Austrian economics is primarily free market economics which Americans among others use heavily.

Hate to rock your world!

the term Austrian School stands for liberalism and laissez-faire-economics (where economic performance is optimized when there is limited government interference).

 

I found this on Austrian economics.

http://www.dailystocks.com/forum/showtopic.php?tid/2623/

 

And you think China has "limited government interference"? Lmao, you can't be taken seriously Ted. You live in a weird made up world that doesn't exist.

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Oh you found a .com article on Google? Gold star for Robert!!!

 

yes the greatest economic miracle in human history but the liberal IQ is such that they will look at it and East Germany and Cuba and say, we should copy Communist China, East Germany, and Cuba. A liberal will be anti reason and anti science and thus should not be allowed to participate in democracy. As children cant vote, liberals should not be allowed to vote.

 

infinitely more limited then when they practiced communism!! 1+1=2

Here's a good book with which to begin your education:

In his new book titled Markets over Mao: The rise of private businesses in China, Lardy argues that even though SOEs still enjoy monopoly positions in some key sectors in China, such as energy and telecommunications, their role in the overall economy has diminished significantly over the years. Here are some of the facts he presents to back his thesis: in 2011, China’s state-controlled firms only accounted for about a quarter of the country’s industrial output; and their share in exports has dropped to about 11% today; in 2012, state firms were only responsible for about one-tenth of fixed investment in manufacturing. And in terms of employment, SOEs employed about 13% of China’s labor force in 2011, a dramatic decline compared with the 60% figure recorded in 1999.

 

You think China is an example of Austrian economics? I think that's all that needs to be said Ted. Lmao.

 

Germany during Hitler was like two different countries. Upon the take over by Hitler, he set about to vastly improve the life of the Germans. He shoved Keynesian economics to the max. Germany was at peace with the world until they invaded Poland in 1939. This was their advent into armed conflict. Follow by the other invasions, suddenly Germany was at war. And during War it ended up with Germany suffering a virtual wipe out of the country. It is difficult for most Americans , including me, to realize how bad Germany was destroyed and I had to visit Germany to find out first hand. I got there after West Germany has recovered but in East Germany they had not recovered.

So you had the Hitler of peace followed by the Hitler of war.

The peace person engaged in building projects that put Germans to work earning pay. Even his war machine produced jobs.

 

I think you are correct and if Ted stops to think it over, Ted too will see you are correct.

Krugman gives economists a bad name.

Friedman gave them a good name.

 

China is an example of a country switching to capitalism, Austrian, free market, laissez-faire-economics (where economic performance is optimized when there is limited government interference). Now do you understand?

 

Friedman and Krugman were/are both accomplished economists and partisans. 1+1=2

 

Econ 101: when the govt puts you to work they must put someone in the private sector out of work so no net gain is possible. Make sense? If it were as simple as you imagine the economic problem would have been solved 100 years ago.

 

Well that or read your partisan remarks.

I hoped all could profit from that non partisan link.

 

I need more.

Say the Government puts a school teacher to work.

Who lost a job?

Economics understands the term overhead. Those costs do not create production.

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But Krugman gives them a bad name whereas Friedman gave them a good name.

Watch Friedman on youtube. You do not get partisan chit chat. He explains how things work and is not yapping about the evil rich.

 

if the govt taxes the private economy $50,000 to pay a teacher, thats $50,000 the private economy cant use to hire a worker!! The more who work for the govt the fewer who work for the private sector.

 

That is obviously true. Government does have a legitimate role, but its inherent tendency to expand needs to be carefully checked. No one has found a way sustain the checks on government expansion. Like cancer - government is invasive.

 

this was the entire purpose of our very very conservative Republican Constitution. It is no wonder liberals spied for Stalin, gave him the bomb as he was starving 60 million to death, and voted for Sanders ( vacationed in USSR).