Skip to comments.Friday's economics lesson
Posted on 12/07/2012 4:01:32 PM PST by Thad Lost
Dr. Sowell is perhaps one of our greatest living economists. Since arguments and debates about economic matters seem so important to almost everyone during our election cycles, I will never understand America's reluctance to actually take the time and energy required to gain even a basic understanding of the subject. I will likewise never fully understand the nation's economists remaining mostly silent during election seasons and allowing politicians and morons to take it upon themselves to put words into their mouths. When Barack Obama and Bill Clinton stood up during the Democrat National Convention and made the astoundingly false claim that all economist agree with us, why was there not a resounding cry from economists around the land that let Americans know that in fact, they were lying?
(Excerpt) Read more at teapartynation.com ...
There WAS a resounding response of disagreement. Its just that the media ignored it as the always do. Even Fox.
Most of the government's "economists" are economists only by avocation., not by training. Their training is in Finance, not Economics.They are two very different animals. All or nearly all of the government "economists" are Goldman Sachs operatives- Finance Men. Their training and expertise is in using money for immediate advantage and in getting as much of it as possible into their own or their employers' pockets. They all have MBAs. To get such a degree it is not necessary to be more acquainted with actual Economics than one 'survey' course, which does not teach Economics but rather describes different historical systems of thought and may advocate for one, generally keynesianism, without explaining the nuts and bolts of it.