Economics: It’s simpler than you think

posted by
March 30, 2016
Ludwig von Mises Institute
by David Gordon  
Posted in Commentary

"In the view of John Tamny -- an editor at Forbes and RealClearMarkets -- economics as it is usually studied and taught in universities is unnecessarily complicated. The basic truths of economics are simple and require no difficult mathematics to understand." (03/30/16)

https://mises.org/library/economics-its-simpler-you-think  

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  • dL

    “The government, Tamny emphasizes, produces nothing on its own. It operates by taking resources away from the productive. To the objection that the government may itself use money it takes in taxes for purposes beneficial to the economy, Tamny answers that people successful in business are highly likely to be better judges of what is beneficial than bureaucrats in the government. If the bureaucrats were better able to discern profit-making opportunities, they themselves would be entrepreneurs. High level bureaucrats may earn substantial salaries, but the wealth of those in business is far greater. “If you’re so smart, why are you a bureaucrat?”

    And David Gordon proves he doesn’t understand the topic, at least not in any meaningful empirical sense. Then again, he’s an economist, our version of the medieval scholastics, endlessly hypothesizing about worlds that only exist in the neverlands.

    The government has its hand in almost every technical “innovation” on the market. Highly successful business people are almost certainly in bed w/ the state or will be. Quite a few bureaucrats are very adept at realizing fantastic profit-making opportunities. They spend a period of time as a .gov’er and then write their own very lucrative ticket in the “private sector.” High level bureaucrats earn substantial salaries and then move on to fuck you wealth in the “private sector.”

    “If you’re so smart, why are you a bureaucrat?” Thats like, if you are so good looking, why are you at the beach? Well, that’s where the best looking girls are at. Re: the former question, that’s where the serious money is at.

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