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11/14/2012 6:20:57 AM
48
After taking Macroeconomics
I must wonder, if there's so many economists that known that's wrong with the economy of a country such as United States, why don't they fix it?
This [url=http://www.youtube.com/watch?v=PTUY16CkS-k]video (kind of funny actually)[/url] explains a lot of things and the problems that needs to be fix and etc.
I mean, it seems to me it is so obvious what we need to do after just taking an introductory course to macroeconomics, I mean, now I know not to spend $800 billion on a stimulus legislation that will hardly stimulate anything.
What do you guys think? Any of you took a micro/macro economic course before and had your mind changed after finishing it?
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[quote][b]Posted by:[/b] Mr Libertarian[/quote] I think a lot of your trepidation when it comes to Federal Reserve policy and government intervention in general is the risk of inflation. Inflation isn't necessarily in and of itself a bad thing. Inflation as you know punishes savers and benefits borrowers if those costs are not priced into the initial loan interest rate. US consumers are known to be big borrowers - we generally benefit from inflation just as much as government. Wages in general have risen along with inflation here in the United States. Yes - a dollar bought five loaves of bread back in the day. But back in the day, the average household income wasn't over $50,000 either. [Edited on 11.14.2012 12:37 PM PST]
