economics made easy

[reaper239]

found this while looking around on the internets. quick and easy to understand basic economics lesson from forbes magazine.

http://www.forbes.com/sites/peterferrara/2011/12/22/the-way-the-world-and-free-market-economics-works/

[fridginators]

Stopped reading at "redistributionist Obamanomics". Seriously man, any attempt to portray Barack Obama as left-wing is just false. It falls into the whole big government/small government straw man dichotomy. It presents Democrats as idealist Keynesians, which is really very far from the truth, even in the days of FDR or Johnson.

I've found that "economics lessons" tend to teach one particular kind of extremely right-wing economics, with a reliance on maths over actual substance - even in the more Keynesian variants. There is no easy lesson in economics, it's actually a very difficult and theoretically complex discipline, when taught accurately that is. Unfortunately most people, especially within the States and the UK, tend to fall into a State vs Market approach, which is a theoretical noose of the highest order. It also dehistoricises the capitalist system, and ignores the multitude of economics schools that have come before and after the dominant neoclassical approach. The irony is that once you investigate neoclassical principles they are clearly flawed, relying on deus ex machinas of how market systems are supposed to clear in an equilibrium system, ergo Walras' "auctioneer".

...that was all very wonky. tl;dr I don't like this article.