Did You Know...

[Jamougha]

tom,

Thanks. A couple of those are on my list of 'good things about inflation' lol. How do people propose to eliminate inflation without risking deflation?

[Borodog]

[ QUOTE ]
tom,

Thanks. A couple of those are on my list of 'good things about inflation' lol. How do people propose to eliminate inflation without risking deflation?

[/ QUOTE ]

There's nothing wrong with deflation. The negative hysteria over deflation is just perpetuated to justify a monetary system based on mass counterfeiting.

[Misfire]

[ QUOTE ]
[ QUOTE ]

Here's a hint

[/ QUOTE ]

By your hint, I take it you think that rote memorization is a key factor in determine someone's level of education...

[/ QUOTE ]

While finding Iraq or New York on a map is not the come-all-end-all of education (and while it may be a matter of "rote memorization," I think the lack of ability to find them is a good indication of serious deficiencies.

[calmB4storm]

[ QUOTE ]
How do people propose to eliminate inflation without risking deflation?

[/ QUOTE ]
Cheaper goods, oh noez!!!

[Jamougha]

[ QUOTE ]
[ QUOTE ]
tom,

Thanks. A couple of those are on my list of 'good things about inflation' lol. How do people propose to eliminate inflation without risking deflation?

[/ QUOTE ]

There's nothing wrong with deflation. The negative hysteria over deflation is just perpetuated to justify a monetary system based on mass counterfeiting.

[/ QUOTE ]

Oh I see - so if I become an economic professor, at what point am I inducted into this conspiracy? What happens if I decline? [img]/images/graemlins/smile.gif[/img]

[ianlippert]

[ QUOTE ]
So far, I'm not aware of any country that has reached a 95%+ literacy level without having government-mandated education.

[/ QUOTE ]

Thank god the American government is doing such a great job

[ QUOTE ]
The NALS found a total of 21-23 percent - or 40-44 million - of the 191 million American adults (defined as age 16 or older) at Level 1, the lowest literacy level. Although many Level 1 adults could perform many tasks involving simple texts and documents, all adults scoring at Level 1 displayed difficulty using certain reading, writing, and computational skills considered necessary for functioning in everyday life.

[/ QUOTE ]

But we arent even talking about literacy. Education is a much broader discussion. Arguably the most externalities are going to be gained from post-secondary education and although the government can subsidize education, they cant force people to get educated. So the government isnt responsible for any of the externalities gained through education. Without the government the people that want to get educated will still get educated.

Secondly the central arguement of the educational externalities is that "When positive externalities exist, the social marginal benefit from consumption of a good or service exceeds the private marginal benefit." This is a pretty rediculous claim. People gain a huge amount by seeking out higher education. All subsidies do is increase the cost of education by increased spending to unprofitable programs and the monopoly labour of the professors.

Considering that taxation is negative sum, I find it very hard to believe that government spending on education programs is a good use of our resources.

[Borodog]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
tom,

Thanks. A couple of those are on my list of 'good things about inflation' lol. How do people propose to eliminate inflation without risking deflation?

[/ QUOTE ]

There's nothing wrong with deflation. The negative hysteria over deflation is just perpetuated to justify a monetary system based on mass counterfeiting.

[/ QUOTE ]

Oh I see - so if I become an economic professor, at what point am I inducted into this conspiracy? What happens if I decline? [img]/images/graemlins/smile.gif[/img]

[/ QUOTE ]

Why dont you ask Atkeson & Kehoe?

[Mark1808]

[ QUOTE ]
My econ classes were really good, no socialism in there. If you go to a liberal school though no doubt they shove that down your throat.

My roomate is an econ PHD at a fairly presigous school (top 20 or something he said). I had a three hour arguement with him about why he thinks the minimum wage is a good thing because employers pay workers too little and the government can determine the proper wage for them to be paid.

[/ QUOTE ]

You can't be serious that a PHd Econ candidate said that? "Too" is so not an economic term. If workers are paid "too" little by employers as an economist he should be able to tell you by how much and why, otherwise he is just giving a subjective opinion. If workers were paid "too" little they would work sompelace else. The fact that a better alternative does not exist would suggest they are not being paid "too" little.


I too was a econ major many moons ago and I amazed at the liberal thinking I see in econ text books today.

[calmB4storm]

"Ever since the Reagan administration, the government has had very little discretion in its spending."

[Dima2000123]

[ QUOTE ]
Secondly the central arguement of the educational externalities is that "When positive externalities exist, the social marginal benefit from consumption of a good or service exceeds the private marginal benefit." This is a pretty rediculous claim. People gain a huge amount by seeking out higher education. All subsidies do is increase the cost of education by increased spending to unprofitable programs and the monopoly labour of the professors.

[/ QUOTE ]
And how exactly are you refuting that central argument?