Basic Economics的笔记(19)

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  • NewmanLoathesU

    NewmanLoathesU (Hello, Jerry.)

    However, politicians’ success does not depend on their learning the lessons of history or of economics. It depends far more on their going along with what is widely believed by the public and the media, which may include conspiracy theories or belief that higher prices are due to “gouging” or “greed.”   (1回应)

    2013-04-20 15:44

  • NewmanLoathesU

    NewmanLoathesU (Hello, Jerry.)

    Halfway around the world, in eighteenth-century India, a local famine in Bengal brought a government crackdown on food dealers and speculators, imposing price controls on rice. Here the resulting shortages led to widespread deaths by starvation. However, when another famine struck India in the nineteenth century, now under the colonial rule of British officials and during the heyday of free market...

    2013-04-20 15:33

  • NewmanLoathesU

    NewmanLoathesU (Hello, Jerry.)

    Prices not only ration existing supplies, they also act as powerful incentives to cause supplies to rise or fall in response to changing demand. When a crop failure in a given region creates a sudden increase in demand for imports of food into that region, food suppliers elsewhere rush to be the first to get there, in order to capitalize on the high prices that will prevail until more supplies arr...

    2013-04-20 15:19

  • 东方树懒

    东方树懒 (三十耳顺的杠精)

    “Polls of economists have found virtually unanimous agreement that declines in product quantity and quality are the usual effects of price controls in general. Of course, there are not enough economists in the entire country for their votes to matter very much to politicians.” Excerpt From Basic Economics 4th Ed Sowell, Thomas This material may be protected by copyright.

    2019-04-23 23:47

  • 子軒

    子軒

    Non-profit organizations which depend on continuing current donations from the public have incentives to be alarmists, in order to scarce more money out of their contributors. For example, one non-profit organization which regularly issues dire warnings about health risks in the environment has admitted to not having a single doctor or scientist in its staff.

    2014-04-07 08:46

  • 子軒

    子軒

    What needed to be rebuilt in Europe was physical capital. What needed to be created in much of the Third World was more human capital.

    2014-04-04 10:20

  • 子軒

    子軒

    Evidence for this conclusion has included statistical data from the World Bank showing that the ratio of the incomes of twenty highest-income nations to that the twenty lowest-income nations increased from 23-to-one in 1960 to 36-to-one by 2000. But such statistics are grossly misleading because neither the top twenty nations nor the bottom twenty nations were the same in 2000 as in 1960. Comparin...

    2014-04-04 10:10

  • 子軒

    子軒

    Looking at things, rather than words, there is little here to be alarmed about. What alarms people are the words and the accounting rules which produce numbers to fit those words.

    2014-04-03 16:28

  • 子軒

    子軒

    Even more effective disguises for international trade restrictions are health and safety rules applied to imports------rules which often go far beyond what is necessary for either health or safety.

    2014-04-03 09:57

  • 子軒

    子軒

    Economically, the key flaw in the high-wage argument is that it confuse wage rates with labor costs-----and labor costs with total costs. Wage rates are measured per hour of work. Labor costs are measured per unit of output.

    2014-04-03 09:31

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Basic Economics

>Basic Economics