Misunderstanding Economics:

Economics is defined as " the branch of social science that deals with the production and distribution and consumption of goods and services and their management". The definition of economics is very straight forward. The goal of economics is to produce GOODS and SERVICES. And at that job the American capitalist economy is the best the world has ever seen, of this there is no doubt.

So where is the misunderstanding, why do Marxist and former Marxist rail against America and it economy. They do because they believe the purpose of the economy is much greater. They believe the economy should provide everyone with a good paying job that is not to hard. It should protect the environment, end poverty, educate the masses etc etc.....

A knife can be used as a screw driver, just like economics can be used to end unemployment but one must accept that you are using the wrong tool.   ¶ 11:16 PM           |

  Everything you know about disappearing jobs is wrong : Part 1

"The story is so common- place as to be a cliche. Another 3.3 million jobs are predicted to transfer offshore in the next decade. "

The average person see the fact above and they saythat'ss bad for Americas economy. But the fact is 3 million jobs over a decade is not statistically significant. In 1951 there were 56 millions Americans salary workers. In 2001 there were 143 million workers. That about 1.75 million new worker (jobs) a year. Now compare that to the estimated 330,000 jobs expected to move offshore per year for the next 10 years.

  ¶ 1:47 AM           |