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RE: Basic Lessons From Economics To Get You Through Life

in #life7 years ago

I might respond to this in more thoughtful form when I have the time - I like your style and appreciate your efforts, but some of what you outline is fairly routine neoclassical economics which is at the very best under some considerable pressure at the moment. The rational consumer model, for example, is increasingly in doubt. The use of markets in certain sectors has been demonstrated to be nonsensical - in healthcare or mass transport, for example. The UK's economic figures for the past 40 years are very interesting, as they cover a period of change from socialist to neoliberal politics. And the economic data, outside the benefits to a small number of wealthy people, is informative. The widening wealth gap, and lack of growth of median pay, indicate an economic model that is ineffective for a whole society, though admittedly, highly effective for the highest earners. And we haven't even mentioned privately owned natural monopolies, which eat up national wealth and convert it to tax-haven hosted corporate profit... I'll stop there, I've got work to do, I'll try to post something as a response to your post in the next few days. Take it easy

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Thanks for the response. This was just a very basic guide to some principles, a high school level you could say. If you want something more in depth take a look at my other articles about brexit and South Africas educational system :)

Great stuff, I will do, thanks :)

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