Wierd, funny things that happen in the economy

Economics Economics Questions
1

War causes everyone to become extremely prosperous, and literally ride the gravy train to wealth.

Things are produced almost instantaneously.

If people get greedy and don’t spend their money, the economy dies.

Abundance (overproduction) causes depression.

There is a collective called “society”, that has wants, desires, and needs.

When A preforms an action, then B is inadvertently helped or harmed, the market fails.

Government can allocate resources better than the market, because government knows what is best.

If there is no government, than people will kill each other and you will see an end to society.

Printing more fiat dollars helps people out.

If A has more resources than B, MARKET FAILURE.

If there is a monopoly in the free market, MARKET FAILURE.

People need to consume, because if they don’t, they are all dead.

If people are fired, it means there is a loss of jobs and MARKET FAILURE.

Post the weird, funny things that your economic superiors claim.

2

The Paradox of Thrift: saving instead of spending is bad for the economy.

3

Stealing your money or property is a crime unless it’s done by the government.

Forcing you to do something against your will is slavery unless you’re forced by the government.

Giving up your privacy is dangerous except when the government knows everything about it: it’s only for your own protection.

Weapons are meant to wound or kills therefore they’re too dangerous to be left in the hands of the citizens or they’d all kill each other.

Disarmed people are better protected against criminals - after all, they can always call the police.

Schools and other public places are made safer by being gun-free: obviously, the crazy maniacs would rather go shoot people at NRA conventions.

Prohibiting drugs is a good way to eliminate drug use, dangerous drugs and related crime.

4

Here’s one that I’ve noticed from social democrats, except worded in a more truthful way:

People can be trusted to choose whoever has dominion over others, but they can’t be trusted with their own property, money, and resources.

5

My favorites:

The Federal Reserve stabalizes the economy.

Greedy speculators are respsonsible for any economic trouble.

You have to spend your way out of a recession.

Economic productivity creates inflation.

6

The stock market must always rise–or else, a market failure has occurred.

Companies that invest in and produce goods that the economy needs and make a profit from it, i.e. oil companies, are too “greedy” and must be destroyed.

Americans must not continue to purchase oil imports, because the Arabs don’t like us. Americans cannot drill for their own oil, because then the polar bears won’t like us. Americans cannot build nuclear power plants or windmills, because the next door neighbors won’t like us. America cannot purchase ethanol from Brazil, because then the midwestern farmers won’t like us. Americans cannot build hydroelectric power plants, because then the fish won’t like us.

Printing money is good, because it makes other nations want to import stuff from us.

Profitable companies must pay taxes to cover “their fair share” of the commons. Companies which mismanage their resources and lose money must be bailed out at the public’s expanse.

7

Whenever people are fired, jobs are “lost”.

Overproduction caused the Great Depression, and war ended it.

Aggregate Supply and Aggregate Demand.

The Fed is necessary so the banks don’t go out of control.

8

Above everything what I like the most is the approach taken in all these non sense statements.

They talk like if things affecting the economy just came from Mars. Evil viruses on their own causing economic mess. Inflation is an evil demon wich only the FED under the blessing of the POPE can fight.

Sure is Funny.

9

Opportunity loss is the same as property loss.

Subsidizing Industry X will create jobs.

We must become more involved in the Middle East or else they’ll raise oil prices.

We must submit everything to the state so they can protect our freedoms. (I’ll be impressed if anyone can top this one)

Edit: Oops; accidently suggested my own post.

10

One time, I heard a silly play in econ class. Seven people were shipwrecked on an island, and within a year, they managed to produce houses, lots of food (some stored), tools, roads (trails), and a dam (plus other things). And these people were random people from modern society, not trained at survival like Robinson Crusoe. I know, a free market is most optimum for satisfying people’s wants, but this seems ridiculous. During the play, we were doing GDP, so we had to list services that were consumer, investment, government (if it was there), and import/export. And also, at the end of the play, one person suggested that everyone should try to measure the GDP. If I could redo that moment, priceless.

No, the one to top this one is that in a democracy, everyone is free.

11

I laugh everytime the DOW drops. People should suffer for their ignorance of free markets. And they STILL blame free markets on the current crisis? They deserve a famine!

12

Illegal filesharing is causing huge economic loss to society.

13

I guess it’s up to the software companies to do a better job at protecting their software :slight_smile: The government is causing the most severe hardships.