Tuesday, March 20, 2007

'Nothing is wrong the economy'--my wonderful experience in mainstream economics

Took a microeconomics class at a local college because it would assist me in achieving that all american cop-out, the graduate program, and wow, what a world, what a world.

Unions--bad.

Inequality--not a problem. In fact some of the people who made $12,000 ten years ago are making $100,00 now, and some of the people who made $100,000 dollars ten years ago are making $12,000 now. Who would have thought?

Free trade- Of course good! In fact, free trade only decimates particular industries--and jobs are replaced as often as they're destroyed. No matter that when you add up what particular industries are decimated it starts to look more and more like the entire U.S. industrial economy, or that the decimation of those industries is leaving millions of people--both the people whose jobs are gone and the people whose job depended on the money those jobs brought into the community---up the creek. Besides, it's the unions that caused those jobs to go away, those unions with those high wages strangling the business, not foreign competition for pennies on the dollar in wages.

Regulation---Pollution permits!

What else....much else, but that's just a list off the top of my head.

In other words, even though the federal reserve chairman himself, Ben Bernanke, has said that inequality in the United States is a significant problem don't you worry. It's not.

Everything is going swimmingly. Pay no attention to the man behind the curtain, or the gorilla in the middle of the room.

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