5 ms·

Many problems in the world would be solved if people actually read Economics 101.

like_any_other 8mo ago
Does reading Econ 101 make one okay with losing their industrial base to a competitor that hasn't bought into the free market dogma?
- SantalBlush 8mo ago
  It gives a few reasons why you're still not getting that industrial base back, even after tariffs.
  - like_any_other 8mo ago
    Oh it teaches you to resign yourself to slow decline? A very useful class then, I can see why it is so lauded.
energy123 8mo ago
Agreed, and the intention here isn't to block any particular policy outcome, it's to ask that you narrowly scope your tools to what can work, instead of being the 20th failed attempt at price controls or tariffs. (And Econ 101 will teach you when tariffs can make sense, too)
mekdoonggi 8mo ago
Surprisingly few Americans can read, and surprisingly fewer at a college level.
- Insanity 8mo ago
  I get your point, but literacy rate is high in the US, so most Americans can, in fact, read. However, they rarely read books and indeed most don’t read at a university level. Rarely reading books is also not tied strictly to the US.
  - dghlsakjg 8mo ago
    Studies consistently find about 20% of Americans are functionally illiterate, depending on what is meant by functionally illiterate. Typically this means that they can read, but frequently cannot grasp the meaning of what they read. The US is actually pretty illiterate compared to peer countries.
    - Insanity 8mo ago
      Higher than I expected although I’m not totally surprised given the US educational system.
- dghlsakjg 8mo ago
  I was an econ major, and a lot of the lower level courses were required for business majors. It was genuinely shocking how many people from the latter group just could not understand the absolute basics of supply curves and demand curves. The upside is that I was able to help them understand it by offering tutoring, where I was in limited supply, and there was endless demand for my services!

Does reading Econ 101 make one okay with losing their industrial base to a competitor that hasn't bought into the free market dogma?

SantalBlush 8mo ago
It gives a few reasons why you're still not getting that industrial base back, even after tariffs.
- like_any_other 8mo ago
  Oh it teaches you to resign yourself to slow decline? A very useful class then, I can see why it is so lauded.

energy123 8mo ago

Agreed, and the intention here isn't to block any particular policy outcome, it's to ask that you narrowly scope your tools to what can work, instead of being the 20th failed attempt at price controls or tariffs. (And Econ 101 will teach you when tariffs can make sense, too)

mekdoonggi 8mo ago

Surprisingly few Americans can read, and surprisingly fewer at a college level.

Insanity 8mo ago
I get your point, but literacy rate is high in the US, so most Americans can, in fact, read. However, they rarely read books and indeed most don’t read at a university level. Rarely reading books is also not tied strictly to the US.
- dghlsakjg 8mo ago
  Studies consistently find about 20% of Americans are functionally illiterate, depending on what is meant by functionally illiterate. Typically this means that they can read, but frequently cannot grasp the meaning of what they read. The US is actually pretty illiterate compared to peer countries.
  - Insanity 8mo ago
    Higher than I expected although I’m not totally surprised given the US educational system.
dghlsakjg 8mo ago
I was an econ major, and a lot of the lower level courses were required for business majors. It was genuinely shocking how many people from the latter group just could not understand the absolute basics of supply curves and demand curves. The upside is that I was able to help them understand it by offering tutoring, where I was in limited supply, and there was endless demand for my services!