weso1
<B>Clique Leader</B>
You mean like supply side, demand side, do/should morals play a part, etc.?
Morals should absolutely play a part in economics.
You mean like supply side, demand side, do/should morals play a part, etc.?
Morals should absolutely play a part in economics.
Paying people based on merit is immoral?
No, but there are moral arguments when it comes to other economic issues. Taxation for example is a moral issue.
Paying people based on merit is immoral?
Are there sectors of life/society where morality should not be employed?
Are there sectors of life/society where morality should not be employed?
sturg, to your graph. I think the thing that is being ignored is that where prices are rising, there is no substitution effect. It's all delivered in real time. I can rely on cheap Chinese labor for clothing and electronics, but I can't import my medical care (or my housing or my childcare or my university education) from China. That has to be delivered on a face-to-face basis. I agree that there may be some effect that emanates from subsidies (I don't believe that housing prices would be where they are without the home mortgage interest deduction), but I think the larger effect--at least for the products listed on the graph--comes from the nature of what is being delivered (services over goods).
Totally fair point... and I'm glad you addressed the graph as nobody else seems to want to.
But let's look at education: The government subsidizes it. They allow every student to take out subsidized loans. Meaning - access to money to pay for college is essentially limitless. When this happens, prices will go up. If the government didn't do this, less students will be able to get loans, meaning less demand for education, meaning a reduction in prices.
Health care? The government has mandated that ever single person must buy insurance. This gives hospitals/doctors blank checks to continue to rise prices. As prices rise, insurance goes up... etc.
Then you look at things like TVs... you let the market go to work. You let technology go to work. Innovation, competitions, etc. Prices plummet.
Laurenn McCubbin @laurennmcc 32m32 minutes ago
OH MY GOD - NYC Parks removes Trump statue, then says this:
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