Economic Ignorance
March 28th, 2006 | by Paul Merda |It is Economic Ignorance that will be our undoing. This ignorance is pervasive throughout our population and especially in our elected leadership. Members of Congress in general have absolutely no idea about Economics, yet they hold incredible power that can influence the overall Economy. They spend our money with no thought about the consequences, borrowing more and printing more dollars. We CANNOT spend ourselves into prosperity, if you think we can, try it at home and see how it goes. Ron Paul says it best:
We cannot suspend the laws of economics or the principles of human action any more than we can suspend the laws of physics.
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One Response to “Economic Ignorance”
By the stuffed tiger on Mar 28, 2006 | Reply
Well, unlike physics, there are major differences of opinion when it comes to the laws of economics. There are also very different levels (macro and micro) of economics to consider with regard to any policy decision. The result is that almost anything can be condemned or justified economically (ahem, tax cuts during war time).
What I think you are really saying is that our politicians willfully ignore the long term ramifications of their decisions so they can pursue their short term goals. This is less about economics than it is about prudence and responsibility. Yes, economics is an essential science that often goes unconsidered when opposed by political goals, but our politicians are aware of it even if they choose to pander to special interests instead of making good decisions.
off to the link