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 Economics 101 videos-YOU NEED An Understanding of Economics

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Abracadabra
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PostSubject: Economics 101 videos-YOU NEED An Understanding of Economics   Sun 11 Dec 2011, 9:00 am

Everyone needs a basic understanding of economics....otherwise, the US of A will be lost without a shoot being fired!!!

The following Economics 101 videos can be seen...@....
http://freedomandprosperity.org/videos/economics-101-series/

Economics 101 Educational Series


The New Deal Was A Failure: Hoover and FDR Prolonged the Great Depression with Big Government
This mini-documentary from the Center for Freedom and Prosperity Foundation explains how the statist policies of Presidents Hoover and Roosevelt lengthened and deepened the Great Depression. The video also briefly explains how reductions in the burden of government spending helped the economy recover from a deep recession after World War I and to grow after World War II.

The European Fiscal Crisis and Lessons for America
Many European welfare states have been caught in a downward spiral of taxes, spending, and debt. This mini-documentary from the Center for Freedom and Prosperity identifies key lessons for policymakers seeking to avoid the inevitable fiscal crisis caused by the welfare state.

Free Markets, Not Redistribution, Is Best Way to Reduce Poverty
The so-called War on Poverty has failed. Making government bigger and creating more federal redistribution programs has been bad news for taxpayers. But the welfare state also has been a disaster for the less fortunate, creating a flypaper effect that makes it difficult for people to lead independent and self-reliant lives. This Center for Freedom and Prosperity Foundation video shows how the poverty rate was falling after World War II — but then stagnated once the federal government got involved.

Economics 101: Seven Reasons Why Tax Increases Are the Wrong Approach
This Economics 101 video from the Center for Freedom and Prosperity gives seven reasons why the political elite are wrong to push for more taxes. If allowed to succeed, the hopelessly misguided pushing to raise taxes would only worsen our fiscal mess while harming the economy.

Economics 101: Tax Competition: A Powerful Force to Restrain Big Government
This Center for Freedom and Prosperity Foundation Economics 101 video succinctly explains why tax competition restrains excessive government since politicians realize that jobs and investment can cross bordes if they get too greedy and impose punitive tax policy.

Economics 101: Four Reasons Why Big Government Is Bad Government
This Economics 101 video from the Center for Freedom and Prosperity explains that excessive government spending undermines prosperity by diverting resources from the productive sector of the economy. Moreover, the two main ways of financing government – taxes and borrowing – cause additional economic damage.

Economics 101: Keynesian Economics Is Wrong: Economic Growth Causes Consumer Spending, Not the Other Way Around
Politicians and journalists who fixate on consumer spending are putting the cart before the horse. Consumer spending generally is a consequence of growth, not the cause of growth. This Center for Freedom and Prosperity video helps explain how to achieve more prosperity by looking at the differences between gross domestic product and gross domestic income.

Economics 101: Indexing the Capital Gains Tax to Protect Taxpayers from Inflation
The capital gains tax is a perverse form of double taxation that should be abolished. This bad tax is especially damaging because families often are taxed on gains that are solely the result of inflation. This video explains how taxpayers could be protected by indexing the capital gains tax so the levy only applies to inflation-adjusted gains.


Economics 101: Repealing Obamacare and Restoring a Free Market in Healthcare
This CF&P Foundation video explains that repealing Obamacare is just the first step if we want to genuinely restore a free market and create an efficient and cost-effective healthcare system.


Economics 101: The Job-Killing Impact of Minimum Wage Laws
This video explains how arbitrarily mandating a certain wage can have terrible consequences, such as the eliminations of job opportunities for less fortunate members of society.



The above Economics 101 videos can be seen...@....
http://freedomandprosperity.org/videos/economics-101-series/






Hope and change voters....do not forget to after you enjoy a  with obama Kool-Aid....sweetened with NutraHope!

Many people (that I know) are alive only because it’s illegal to shoot them.

Ronald Reagen said it best.......The trouble with our liberal friends is not that they are ignorant, but that they know so much that isn’t so.

"You can ignore reality, but not the consequences of ignoring reality." Ayn Rand

The truly educated never graduate !

When the Going Gets Tough, the Tough Get Going. The Smart Left a Long Time Ago.

I have always said I don't care what you do or with whom you do it, but don't demand that I think that it is normal or that it is OK!!!!

Only two things are infinite, the universe and human stupidity!
how rude

Defining....Abracadabra … cursing censored


Last edited by Abracadabra on Sat 18 Feb 2012, 4:56 pm; edited 1 time in total (Reason for editing : added more videos)
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peteclimbs
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PostSubject: Re: Economics 101 videos-YOU NEED An Understanding of Economics   Sat 14 Apr 2012, 9:54 pm

Abracadabra wrote:
Everyone needs a basic understanding of economics....otherwise, the US of A will be lost without a shoot being fired!!!

But what do you do when one economist makes a statement and another tells you the exact opposite? Both are convinced the other one is wrong. How do you know which one to believe?
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Abracadabra
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PostSubject: ECONOMIST AS SCIENTIST......AS POLICY ADVISER   Sun 15 Apr 2012, 6:00 am

peteclimbs wrote:
Abracadabra wrote:
Everyone needs a basic understanding of economics....otherwise, the US of A will be lost without a shoot being fired!!!

But what do you do when one economist makes a statement and another tells you the exact opposite? Both are convinced the other one is wrong. How do you know which one to believe?


That is an excellent question.

The reason for the opposite answers usually depends on whether the economist is acting as a scientist or as a policy adviser.


THE ECONOMIST AS SCIENTIST

Economists try to address their subject with a scientist’s objectivity. They approach the study of the economy in much the same way a physicist approaches the study of matter and a biologist approaches the study of life: They devise theories, collect data, and then analyze these data in an attempt to verify or refute their theories.


THE ECONOMIST AS POLICY ADVISER

Often, economists are asked to explain the causes of economic events. Why, for example, is unemployment higher for teenagers than for older workers? Sometimes, economists are asked to recommend policies to improve economic outcomes. What, for instance, should the government do to improve the economic well-being of teenagers? When economists are trying to explain the world, they are scientists. When they are trying to help improve it, they are policy advisers.
POSITIVE VERSUS NORMATIVE ANALYSIS

To help clarify the two roles that economists play, let’s examine the use of language. Because scientists and policy advisers have different goals, they use language in different ways.

For example, suppose that two people are discussing minimum-wage laws. Here are two statements you might hear:

POLLY: Minimum-wage laws cause unemployment.

NORM: The government should raise the minimum wage.

Ignoring for now whether you agree with these statements, notice that Polly and Norm differ in what they are trying to do. Polly is speaking like a scientist: She is making a claim about how the world works. Norm is speaking like a policy adviser: He is making a claim about how he would like to change the world.

In general, statements about the world are of two types. One type, such as Polly’s, is positive. Positive statements are descriptive. They make a claim about how the world is. A second type of statement, such as Norm’s, is normative. Normative statements are prescriptive. They make a claim about how the world ought to be.

positive statements
claims that attempt to describe the world as it is

normative statements
claims that attempt to prescribe how the world should be

A key difference between positive and normative statements is how we judge their validity. We can, in principle, confirm or refute positive statements by examining evidence. An economist might evaluate Polly’s statement by analyzing data on changes in minimum wages and changes in unemployment over time. By contrast, evaluating normative statements involves values as well as facts. Norm’s statement cannot be judged using data alone. Deciding what is good or bad policy is not just a matter of science. It also involves our views on ethics, religion, and political philosophy.

Positive and normative statements are fundamentally different, but they are often intertwined in a person’s set of beliefs. In particular, positive views about how the world works affect normative views about what policies are desirable. Polly’s claim that the minimum wage causes unemployment, if true, might lead her to reject Norm’s conclusion that the government should raise the minimum wage. Yet normative conclusions cannot come from positive analysis alone; they involve value judgments as well.

As you study economics, keep in mind the distinction between positive and normative statements because it will help you stay focused on the task at hand. Much of economics is positive: It just tries to explain how the economy works. Yet those who use economics often have normative goals: They want to learn how to improve the economy. When you hear economists making normative statements, you know they are speaking not as scientists but as policy advisers.


Principles of Economics, 6th Edition. N. Gregory Mankiw.







Hope and change voters....do not forget to after you enjoy a  with obama Kool-Aid....sweetened with NutraHope!

Many people (that I know) are alive only because it’s illegal to shoot them.

Ronald Reagen said it best.......The trouble with our liberal friends is not that they are ignorant, but that they know so much that isn’t so.

"You can ignore reality, but not the consequences of ignoring reality." Ayn Rand

The truly educated never graduate !

When the Going Gets Tough, the Tough Get Going. The Smart Left a Long Time Ago.

I have always said I don't care what you do or with whom you do it, but don't demand that I think that it is normal or that it is OK!!!!

Only two things are infinite, the universe and human stupidity!
how rude

Defining....Abracadabra … cursing censored


Last edited by Abracadabra on Mon 16 Apr 2012, 9:26 am; edited 1 time in total (Reason for editing : changed topic title)
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