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If one wished to learn about economics... - Greg - 04-05-2009
Which goes first: the study of macro, or the study of micro?
Thanks!
Re: If one wished to learn about economics... - freeradical - 04-05-2009
I took macro first, and then I took micro.
However, the supply & demand model that is taught at the beginning of macro is actually micro.
Re: If one wished to learn about economics... - space-time - 04-05-2009
None. Nano
Re: If one wished to learn about economics... - Greg - 04-05-2009
Thanks, you two! :-)
Re: If one wished to learn about economics... - Dennis S - 04-05-2009
There probably is no answer, but I would say macro.
My econ professor said, "If you can teach a chimp to say 'supply and demand', you have an economist.'"
Re: If one wished to learn about economics... - morlock - 04-05-2009
OK, for us plebs, why can we afford trillions for the banking system, when on the ground, we see New Orleans, starving children in the Appalachians, tangible, quantifiable human suffering, that we can't divert millions to?
I know, just logic seems to fail me, and I rail against the injustices of the world.
There is just a part of me that rails(screams) against the Madoff/Milkens, ad feels foe the Bodeans/Bumpus's.
Re: If one wished to learn about economics... - RgrF - 04-05-2009
That's why we voted for change.
If we were the Titanic (and we might actually be that) the time between spotting the thing that will sink us and the time it takes to redirect the ship might not be enough. Especially since you have to come up with a completely new steering mechanism and test drive it while hoping those iceburg underparts aren't as close as they appear to be.
Re: If one wished to learn about economics... - Yoyodyne ArtWorks - 04-05-2009
Bottom line, everything one needs to understand about economics and capitalism can be inferred from a solid understanding of supply and demand.
Our economic woes were entirely predictable, some might say even inevitable. Capitalism is by far the best economic system, but it has one significant flaw in its current form; it only has one criterion for measuring success, profit. Just as a shark is not "bad" or "good" for chomping off your leg (it's just being true to its nature), so too is capitalism neither "good" or "moral" or "bad" or "immoral." It just is what it is...
A CEO who can make his company $50 billion profit while bespoiling the environment, or $20 billion while not damaging the environment, had better choose the $50 billion course or his board of directors will vote him out and get somebody else. And if that company owns the local media outlets who might report on the environmental damage caused by the company, all the better!
Growth is a great way to boost profit, and if the demand side of the economy can't afford to buy more goods and services, you get consumers addicted to credit, enabling them to live far beyond their means. Some day, far off in the future, all of that overextended credit will come back to haunt us all...
Welcome to that day!
Re: If one wished to learn about economics... - RgrF - 04-05-2009
morlock wrote:
OK, for us plebs, why can we afford trillions for the banking system, when on the ground, we see New Orleans, starving children in the Appalachians, tangible, quantifiable human suffering, that we can't divert millions to?
I know, just logic seems to fail me, and I rail against the injustices of the world.
There is just a part of me that rails(screams) against the Madoff/Milkens, ad feels foe the Bodeans/Bumpus's.
http://www.pbs.org/moyers/journal/04032009/watch.html
Re: If one wished to learn about economics... - Numo - 04-05-2009
Yoyodyne ArtWorks wrote:
Bottom line, everything one needs to understand about economics and capitalism can be inferred from a solid understanding of supply and demand.
Our economic woes were entirely predictable, some might say even inevitable. Capitalism is by far the best economic system, but it has one significant flaw in its current form; it only has one criterion for measuring success, profit. Just as a shark is not "bad" or "good" for chomping off your leg (it's just being true to its nature), so too is capitalism neither "good" or "moral" or "bad" or "immoral." It just is what it is...
Interesting commentary on this viewpoint; why legal is not moral: a person can choose not to be a shark.
http://www.startribune.com/opinion/commentary/42442402.html