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The MBA President Describes Economics

post #1 of 5
Thread Starter 
I think I'm going to gag...

Quote:
Originally Posted by Bush
Bush gave an intriguing description about what happens when businesses expand, as was the case here at a company run by a woman.

"You know, when you give a man more money in his pocket _ in this case, a woman _ more money in her pocket to expand a business, they build new buildings. And when somebody builds a new building, somebody has got to come and build the building.

"And when the building expanded, it prevented (sic) additional opportunities for people to work. Tax cuts matter. I'm going to spend some time talking about it," the president said.
In a way, this over-simplistic view is accurate: people spend money, the economy moves forward. I guess I was expecting more from a man who received his MBA from Harvard. I lead a life filled with disappointment.

How I wish we could just do away with this voodoo that tax cuts magically solve every single ill in the world, from a sluggish economy to herpes. It's like that Chris Rock skit about Black History where every single answer is Martin Luther King. Every single answer from these a-holes is more tax cuts.
post #2 of 5
This is how most economists view things, unfortunately. Of course, you're not any better judging but that last paragraph.
post #3 of 5
Thread Starter 
Quote:
Originally Posted by stunt poop
This is how most economists view things, unfortunately. Of course, you're not any better judging but that last paragraph.
What the fuck are you talking about? Most economists would probably view machinations of the American economy with a little more sophistication than this elementary view of the world.
post #4 of 5
But he is right in saying that in traditional economics people are assumed to spend to their maximum utility, and that savings are athema. Nevermind what the environmental consequences of incresing economic output are. Only recently has there been a movement to look at the true costs behind economic expansion. Here is an interesting read if you have the time: LINK
post #5 of 5
That is ridiculous Ludwig...cost/benefit analysis and impact statements have been around for centuries. I love the people at Adbusters but, please, educate yourself a little next time you post.
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