You can't repeal the laws of economics.
One of my favorite things about being involved with MCEE is that I have gotten to speak to a number of high school economics classes and interact with some of Mississippi's brightest students. I try to make economics, politics, and history, which are interrelated, "real" for students. The main point I ask them to remember during my talks is that you can't repeal the laws of economics.
It's a lesson they need to know. Mississippi's financial literacy lags behind much of the country, and knowing how to budget, spend, invest, and save are critical skills that our students will need, whatever their chosen careers.
But the point is greater than personal money management. One of the basic tenets of economics is the concept of rational behavior, that people will act according to their self-interest.
It's Adam Smith's "invisible hand" and it guides much more than dollars and sense. There are many policy makers who could stand to bear that lesson in mind, too.
Indeed, the roiling disaster that is Obamacare illustrates that the laws of economics trump even decrees from Washington. Read more ...
Mr. Wilson purchased distribution rights on Jackson Jambalaya.
11 comments:
as told by the self made man. ug
I wish back when I was in school some centuries ago, we had had involvement in things like this.
What does it mean to have "purchased distribution rights on J Jambalaya"?
"They grasped the general concept that if government increases regulation, it will slow the growth of businesses, and jobs."
Yes, back when we had zero regulation, business was booming! Over the bodies of dead workers!
You know what *else* slows down the economy? Laws. We could deliver products faster without speed limits, for instance ... that's literally slowing down the economy.
... Being "against regulation" is just stupid. Argue specific regs.
@ 10:38....well said...by someone who has obviously never spent even one minute managing a for-profit business. Let's look at these laws, shall we: For example - Speed Limits. EVERYBODY obeys them, right? WRONG. Some do. Some don't. Those that DO never needed a government issued sign in order to behave responsibily so the sign did nothing to change THEIR behavior. Those that DON'T...well...the "law" hasn't changed their behavior EITHER. And thus, it will always be.
Never trust somebody that hasn't ever worked in the private sector (self employed leach-lawyer doesn't count). Are we supposed to thank him for coming down from the mount to deliver this gospel? How about get a job
4:46 - Corey is a great guy who is Harvard educated and is a partner is a successful law firm. He's volunteered a lot of time to Republican county and municipal committees.
Why in the world would you go after him like that? I can only think of two times he worked for the govt. once as chief of staff to a statewide official and another time when he got selected as a top position for a young person in the Bush White House working in the pentagon.
I'm a fan of him bc he's smart, honest and gives a shit.
Corey if you're readin this please run for the open seat in Madison County. Lucky to have you.
9:09 p.m., you raise a good point. People nowadays can't just disagree with somebody's position on an issue; they have to denigrate the person whom they disagree with.
I disagree with Mr. Wilson's Far Right, extremist opinions on most issues. However, I have no reason to believe that he is not "smart, honest, and gives a shit." Newt Gingrich is a smart and as far as I can tell, honest person, too, but I don't agree with most of his wacky opinions either. b
4:38; Thanks for your knee-jerk pecker-headed comment. I've owned a total of five 'private sector' bidnesses - still operate two. And you're still working at Goober's lube-rack? Your idea of economics principles is no doubt balancing your Valero payment against your desire for Primos breakfast on Saturday morning while pushing your JC Penney payment out til the day before payday.
Corey must have missed or flunked Economics 101.
And, he certainly missed out on civics.
The governments role in economics in a capitalistic system is to encourage a level playing field so that supply and demand can work and competition flourishes.
You don't get better mousetraps with monopolies people. And, the government has an interest in keeping criminals from killing its citizens with dangerous products. A dead or injured worker can't produce!
Laws and regulations , while never preventing criminals from engaging in criminal behavior, acts as a deterrent to criminals and you can put their asses in jail. ( That stop sign argument is one of the dumbest things I've ever read...murders are committed even though we have laws about that as well).
Although I agree with the notion 7:47 has of government responsibility, WHO SEZ?
Post a Comment