tag:blogger.com,1999:blog-6115375869553591839.post4249354852189768343..comments2023-10-09T11:23:08.602-05:00Comments on Taking Place: The Myth of Trickle-Down EconomicsRagothhttp://www.blogger.com/profile/02032216046972764021noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-6115375869553591839.post-35548241334620936662012-01-19T11:46:52.983-06:002012-01-19T11:46:52.983-06:00You are correct, it is Austrian economics, and I&#...You are correct, it is Austrian economics, and I'm sorry for the typo. I have nothing to blame for that one aside from general fatigue and not carefully re-reading the post, so, I accept that one.<br /><br />Working in an economics department at a university, I am likewise aware that real economists do not follow any of the simple models any more. However, this post was a bit more about politicians, most of whom are not real economists, and most of whom do over-simplify things to point of being either supply-side or simple Keynesian. It's frustrating, especially when you can knock holes in either side with relative ease, but, again, not real economists, but politicians.<br /><br />That being said, an basic introduction to economics (or, even better, a much more in-depth study of economics) would be good for the general public so that they don't get swindled with promises of mergers creating jobs, or tax cuts bolstering the economy, or willy-nilly spending bolstering the economy.<br /><br />Finally, I like the Cato Institute for a lot of things, but the economics of libertarianism simply do not work for me. Call me a big-government liberal if you want, but I do think the government has a role in providing services, and has the ability to provide services which are better and more inclusive than any private individual or company would. <br /><br />At the end of the day, I don't trust a for-profit company to provide services which are in my best interest if it would cut into their margins. Certainly we see that with private insurance, and I have little doubt that many rural communities, which already have fairly bad roadways, would be even worse off if transportation was privatized. Why maintain a road that services only a few handfuls of people when you can maintain and charge a road that services thousands? Because they will complain? Who else will they enlist, or what other roadways will they take?Ragothhttps://www.blogger.com/profile/02032216046972764021noreply@blogger.comtag:blogger.com,1999:blog-6115375869553591839.post-84280939921666380462012-01-08T21:14:54.159-06:002012-01-08T21:14:54.159-06:00Its AUSTRIAN economics, not AUSTRALIAN. And the r...Its AUSTRIAN economics, not AUSTRALIAN. And the real economists are not supply-side folks any longer, nor are they simple Keynesians, nor Austrians.<br />They focus on more complex models, are finding that all of the simplistic models of the past were bogus at the tipping points. Somebody should write a new Macroeconomics Text and teach it via U-Tube, like the Cato Institute tried to do with its "learn liberty" series based somewhat on the Austrian school ideas, with focus on Property Rights from which all else flows.ClaytonLasSendashttps://www.blogger.com/profile/07269503440774950938noreply@blogger.com