greece_2323820b

10 Essential Economic Truths Liberals Need to Learn

avatar

Economics is called the “dismal science,” and maybe it is. It seems to me, however, when the basics are taught properly, it’s not as dismal as it might be.

Jeffrey Dorfman’s bio reads in part: “A a professor of economics at The University of Georgia and consultant on economic issues to a variety of corporations and local governments.” Dorfman’s above titled article posted at Forbes is excellent, though I would add one important caveat: it’s not just liberals who need to learn his list of “truths.” Many who call themselves “moderate” or “conservative” don’t quite get it either.

Here is Dorfman’s intro and just the list:

Today’s political climate is highly partisan. Debates are full of personal attacks, harsh words, and complete disagreements as each side clings tightly to strongly held beliefs. Part of the difficulty in reaching the compromises necessary to get things done in Washington is that the two parties believe so many opposite theories with each side sure that their opinion represents fact. With that in mind, here are ten economic facts that liberals need to learn.

1) Government cannot create wealth, jobs, or income.

2) Income inequality does not affect the economy.

3) Low wages are not corporate exploitation.

4) Environmental over-regulation is a regressive tax that falls hardest on the poor.

5) Education is not a public good.

6) High CEO pay is no worse than high pay to athletes or movie stars.

7) Consumer spending is not what drives the economy.

8) When government provides things for free, they will end up being low quality, cost more than they should, and may disappear when most needed.

9) Government cannot correct cosmic injustice.

10) There is no such thing as a free lunch.

I keep saying that all of the issues are the same when it comes to the information war. Some Republicans think the key to victory is to drop the social issues because they say we’re losing the public on them. Don’t ask me why those same Republicans think we’re winning the public on the economic issues. We’re not.

If you’ve got a few minutes, Dorfman’s article is well worth your time. He has a paragraph explaining each of the ten “truths” and an easy to understand concluding few paragraphs. You’ll find it at Forbes.com.

BarbWire Books is pleased to announce

Hating Jesus: The American Left's War on Christianity

Matt Barber with Paul Hair

The secular left doesn’t merely have a disagreement with Christianity. These are not people with whom one may reason, compromise or even disagree. They are dedicated to evil. They demand nothing less than the abolition of the biblical worldview, and the destruction of Christ’s followers right along with it.

Now is the time to fight back. If you are someone, Christian or not, who refuses to see Christianity wiped out (like it ever could be) and your children indoctrinated into pure evil, then sitting on the sidelines is no longer an option.

BUY BOOKBUY DIGITAL


Posting Policy

We have no tolerance for comments containing violence, racism, vulgarity, profanity, all caps, or discourteous behavior. Thank you for partnering with us to maintain a courteous and useful public environment where we can engage in reasonable discourse. Read More

STAY IN THE LOOP
Don't miss a thing. Sign up for our email newsletter to become a BarbWire insider.

Send this to friend