Professor Mark J. Perry's Blog for Economics and Finance
"My Friend Sarah" is about a young girl who was the president of her school's "Progressive" club, and then took an economics class.
This video is the winner of the 2009 Fraser Institute Video Contest, and was made by George Mason University students Mark Meranta and Terra Strong.
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
18 Comments:
That wasn't so much an economics course as it was indoctrination with economics in it.
Why do you bother, Seth? An enlightened person like you belongs on a higher sphere.
That chick in the zebra outfit was hot. She reminds me of Dr. Biehl.
Everyone should be forced to take an economics before voting. That might solve SOME of our problems.
"Everyone should be forced to take an economics before voting"
Yes, and even more importantly all politicians should be required to show proficiency in economics before running for office.
Seth, Seth - our favorite troll. OK, I'll bite. Where did you see indoctrination related to the economics class? are supply/demand curves indoctrination? Is marginal utility an indoctrination tool?
It looked to me like that smart girl Sarah figured some things out for herself after learning some basic economics.
..and how would YOU answer the question "Why do I need a license to cut somebody's hair?
"An enlightened person like you belongs on a higher sphere"...
"Where did you see indoctrination related to the economics class? are supply/demand curves indoctrination? Is marginal utility an indoctrination tool?"...
SMACK! SMACK!
Poor sethstorm staggers away from the comments section black & blue still not able to figure out where it all went wrong...
I'd like to know why Seth dislikes offshoring.
Would he prefer losing all jobs through bankruptcy or losing some jobs through offshoring?
He may have a valid reason. Being lied to or getting fired may not be one of them, although it can be distressing.
I'd like to know why Seth dislikes offshoring.
It has been used as a political weapon. Originally, it has been used to marginalize certain political groups. The problem is that it was indiscriminate in its impact. It harms every US citizen, not just the people who are targeted.
While good uses may exist, no implementation of offshoring has used them. There is no incentive to be honest about displacing people as long as they are not marginalized. Honesty in that regard is too expensive. It is cheaper to lie and have Legal clear things up and PR demonize the individuals.
Would he prefer losing all jobs through bankruptcy or losing some jobs through offshoring?
Well, if one wishes to scuttle the economy(due to extended and unwavering opposition to offshoring), I don't know what to say to you.
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Quote from sethstorm: " It doesn't matter if it's Keynes or Hayek/Mises."
So it doesn't matter whose theory best describes reality?
Keynes was shown to be wrong by 1950, yet his silly ideas persist because of their political utility. Even Friedman was turning against monetarism at the end of his life. A politician or bureaucrat will never accumulate any power following Mises/Hayek.
"It is when economics class crosses into the political sphere that indoctrination has an opportunity to be introduced. It doesn't matter if it's Keynes or Hayek/Mises."
Seth, tell me the truth now, is this the output of inexpensive language translation software? In what language did you originally write this bit?
I may not be the sharpest knife in the drawer, but I can usually understand some amount of what I read in comments. I have to admit, however, that I have no idea what you are trying to say here. Please help me.
It doesn't matter if the source material & instruction blindly favored Keynes or Mises/Hayek, it still was indoctrination.
A politician or bureaucrat will never accumulate any power following Mises/Hayek.
Only if followed in the pure form. One can take their teachings and use it as part of a political platform to run for office.
Looks like Sarah was presented with a very narrow view of economics in her classes. Sounds like she came out of that stint more opinionated than ever.
Quote from sethstorm: "Only if followed in the pure form. One can take their teachings and use it as part of a political platform to run for office."
If it's not followed in the "pure form" then it's something else.
A political platform can contain anything. The goal of every politician is to gain an office. It's called politics. Are you advocating for anarchy?
A political platform can contain anything. The goal of every politician is to gain an office. It's called politics. Are you advocating for anarchy?
No. It's that economics and politics do not mix well. However, there are plenty that are willing to consider their economic beliefs the same as their political ones, mixing them anyway. They don't care that it makes the economic beliefs impure.
How you get anarchy out of someone who wants law, order, meaningful choice & honesty from business & government is puzzling.
"It's that economics and politics do not mix well"...
ROFLMAO!
So ignorance of basic economics should help drive one's political beliefs?!?!
Good one!
In case anyone is still following this thread, I'd like to go off-topic (bashing sethstorm) for a moment. :-)
I followed the link in the original post to 2009 Fraser Institute Video Contest and watched the other video entrants. I was amazed at the number of young people promoting Austrian economic principles. Perhaps there is hope for the future afterall.
Seth, how does offshoring harm "every US citizen." It seems you don't view offshoring as an economic "tool" to lower prices, raise profits, strengthen firms, and shift limited resources into emerging industries. Obviously, from your comments, you believe offshoring should be banned.
If politicians can use politics as a "weapon," why can't firms? Why should politicians have all the fun?
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