economist

Serially awesome Cambridge economics professor Ha-Joon Chang has written the world’s smallest economics textbook. 

It’s five key points, all of which are illustrated above; and most of which boil down to “economics is a discipline for the people, and to serve the people. It must be taken back from the political agents known as economists." 

GOP Forced To Admit Repealing Obamacare Would Blow Up The Deficit Like A Bad Bush War

GOP Forced To Admit Repealing Obamacare Would Blow Up The Deficit Like A Bad Bush War

Republicans have pushed so many lies about the Affordable Care Act that they may actually be believing them. For years, Douglas Elmendorf, economist at the Congressional Budget Office, gave Democrats a hard time over the federal costs and tax implications of the ACA. More recently, as the law’s implementation became a reality, the true effects began coming out, and the doomsday predictions began…

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Capitalism is an institution, like our public-school system or our healthcare system. As a nation we think it’s appropriate to debate whether our schools and our healthcare system are working properly and meeting our needs. Why is it taboo to ask whether the way we organize the production and distribution of goods and services is meeting our needs?
—  Richard Wolff, in an interview with The Sun Magazine
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“Word Count” is going to count plenty of things that aren’t words too – and it doesn’t get to a more fundamental question: what actually is a word?

My fifth and final video with Tom Scott! Further reading on what even is a word: this Economist article and this chapter from Heidi Harley

So the current [financial] crisis really began in the 1970s, when the wages stopped rising, but its effects were postponed for a generation by debt. By 2007, however, the American working class had accumulated a level of debt that was unsustainable. People could not make the payments. They were exhausted: exhausted financially, exhausted physically by all that work, and exhausted psychologically because the family had been torn apart by everyone working.
—  Richard Wolff
libertarianism.org
Bob McTeer: Why Bastiat is My Hero
McTeer talks about his admiration for the French economist — specifically how Bastiat expressed economics in simple, accessible terms — and about his own support of free trade and the folly of worrying about trade deficits.

214 years ago today, a great French economist was born. Frédéric Bastiat was an influential supporter and champion of liberty, free markets, and limited government.

Bob McTeer, an American economist, talks about his admiration for Bastiat’s economic principles and how he wants to be like Bastiat when he “grows up”.

VACCINES are medical science’s nuclear weapons. Clean water and sewage disposal aside, they have saved more lives than any other public-health measure. Vaccines have wiped smallpox, a disease once dreaded by rich and poor alike, from the face of the Earth. They may soon do the same to polio. They have driven words like diphtheria and whooping cough from public discourse in rich countries, and might do the same for measles, mumps and rubella were it not for the vanity, selfishness or foolishness of a minority who will not immunise their children against these threats. They also offer the elderly protection, albeit imperfectly, against the lethal ravages of influenza.
—  The Economist. 2015.

(TitleThe American Association for the Advancement of Science; Onwards and upwards)