Friday, 6 March 2009

Economics in one lesson

See if you can spot why politicians aren't very good at it!

7 comments:

curly15 said...

It's like, they are getting ready for Red Nose Day, but the joke is on us.
Printing money has never been the answer!

basementcat said...

What this chap says echoes the lessons of Frederic Bastiat - http://www.econlib.org/library/Bastiat/basEss1.html - he talks about the good economist (who sees what is not seen in the immediate) and the bad economist (who sees only the immediate).

Nu Lab in particular seem only interested in the immediate. More fool them... (too many eedjits voted for them, more fool us).

Oldrightie said...

"it consists in tracing the consequences of that policy not merely for one group but for all groups."
There is only one group that matters to Labour. It is not their party either.

leogex said...

Fee.org also has Hazlitt's book on inflation for download. Here's the link for any interested.

www.fee.org/pdf/the-freeman/hazlitt1104e.pdf

Jack Maturin said...

Great find on the link.

Enjoy your crisps!

Faux Cu said...

FFSake

Politicians are just that, politicians.

The First objective is to attain power and the second is to retain it.

Why, because they are all mentally unstable.

It should be made a disqualification criterion for anyone to be a politician before becoming one.

Good economics is about thinking and seeing through today's economic decisions.

Why do opposition politicians pay lipservice to that, because they can, without fear of unpopularity. They are focussed on achieving power (see objective 1)and this is a useful too to con the great unwashed

Why don't incumbent politicians do that, get somebody to do it for them or listen to people who have?

Go to objective 2


Politicians should be put down at birth or just maybe we could find the errant genes and normalise the shitbags before puberty.

Jack Maturin said...

Twelve videos discussing each of the chapters within the book:

Video 1: The Lesson
Video 2: The Broken Window
Video 3: Public Works Mean Taxes
Video 4: Credit Diverts Production
Video 5: The Curse of Machinery
Video 6: Disbanding Troops and Bureaucrats
Video 7: Who's Protected by Tariffs?
Video 8: "Parity" Prices
Video 9: How the Price System Works
Video 10: Minimum Wage Laws
Video 11: The Function of Profits
Video 12: The Assault on Saving