Economic Facts and Fallacies
Posted: Mon Aug 11, 2008 5:41 pm
I respect this forum and wish I had 1/10th the skill and strength of purpose that these polywell pioneers do. Thanks for the forum.
I read the "news" thread which diverged to an economics and political policy discussion. I thought it might be kinder to start this over here in "general" if anyone was interested.
I found the topic of interest and pleasure last week, strangely enough. My wife gave me a copy of Thomas Sowell's newer book "Economic Facts and Fallacies." She said he used a lot of humor to make his points, my wife is an econ major. I'm an engineer. Humor is in the eye of the beholder I guess. I strongly recommend reading it before expressing opinions. Heinlein often stated how people are NOT entitled to their opinions unless such is well founded. So I suggest a foundation for such.
The book is consistent with Thomas Sowell's other writings and columns. As an engineer I appreciate his taking time to examine many of the leading public policy topics base facts and address the most common fallicious mythologies.
What I left with was a general exhalation of relief, the facts actually show that hard work, prudent consumption and savings, effort to learn skills and then consistent effortful application of skills ... works....regardless of gender or race. Throughout the world. It's not a bunch of bunk, the facts are and have been there for generations. And it works best in a free country with few government manipulations.
SF Calf had low housing costs until the early '70s when land use laws prevented building new housing. Houston Tx never passes such, and is 15% cheaper now than 20 years ago. DUH. Housing costs exceed build value because of the govt interference in the market.
People with high school degrees but without reading writing and 'rithmatic skills do not earn as high of an income, neither do those who choose to not work 40-60 hrs / wk. DUH. Sorry that cultural differences affect population groups efforts in these reguards, but that's just the way it is. Skills and hard work are consistently rewarded across all genders and races.
People who aspire to borrow but have no liquid capitol or history of financial responsibility are a greater risk of default, and industry charges a proportionately higher interest rate to the same. DUH If they didn't they would be out of business, right? If there were unfair rates, then the default rates would be skewed, but they aren't.
One discrimination factor. Skill & effort.
The ant will have food in the winter, not the grasshopper.
The little red hen has bread, not the fox and pig who would not help.
There is too much to do to be distracted by fallacies. "Bread and Circuses!" isn't what most of us are about. The way to make a better world appears to depend on education, prudent use and effort. Now doesn't that make sense?
I read the "news" thread which diverged to an economics and political policy discussion. I thought it might be kinder to start this over here in "general" if anyone was interested.
I found the topic of interest and pleasure last week, strangely enough. My wife gave me a copy of Thomas Sowell's newer book "Economic Facts and Fallacies." She said he used a lot of humor to make his points, my wife is an econ major. I'm an engineer. Humor is in the eye of the beholder I guess. I strongly recommend reading it before expressing opinions. Heinlein often stated how people are NOT entitled to their opinions unless such is well founded. So I suggest a foundation for such.
The book is consistent with Thomas Sowell's other writings and columns. As an engineer I appreciate his taking time to examine many of the leading public policy topics base facts and address the most common fallicious mythologies.
What I left with was a general exhalation of relief, the facts actually show that hard work, prudent consumption and savings, effort to learn skills and then consistent effortful application of skills ... works....regardless of gender or race. Throughout the world. It's not a bunch of bunk, the facts are and have been there for generations. And it works best in a free country with few government manipulations.
SF Calf had low housing costs until the early '70s when land use laws prevented building new housing. Houston Tx never passes such, and is 15% cheaper now than 20 years ago. DUH. Housing costs exceed build value because of the govt interference in the market.
People with high school degrees but without reading writing and 'rithmatic skills do not earn as high of an income, neither do those who choose to not work 40-60 hrs / wk. DUH. Sorry that cultural differences affect population groups efforts in these reguards, but that's just the way it is. Skills and hard work are consistently rewarded across all genders and races.
People who aspire to borrow but have no liquid capitol or history of financial responsibility are a greater risk of default, and industry charges a proportionately higher interest rate to the same. DUH If they didn't they would be out of business, right? If there were unfair rates, then the default rates would be skewed, but they aren't.
One discrimination factor. Skill & effort.
The ant will have food in the winter, not the grasshopper.
The little red hen has bread, not the fox and pig who would not help.
There is too much to do to be distracted by fallacies. "Bread and Circuses!" isn't what most of us are about. The way to make a better world appears to depend on education, prudent use and effort. Now doesn't that make sense?