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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: Geoff Altman who wrote (25236)	1/24/2008 3:04:27 AM
From: Peter Dierks	Read Replies (1) \| Respond to of 71588

Several economics classes were required to earn a business degree. It was always interesting to me so I have continued to read since college. The scholarly treatises can be rather boring, but the magazine articles and populist books by economists are informative while keeping it from getting too deep. If I claimed to be an economics expert it would be a misrepresentation. However I know enough to generally understand what is being written. Sometimes I even understand it enough to agree or disagree. <g> "not knowing much about economics beyond what appeals to my common sense." That is the thing; economics is just applied common sense. I am being serious. A good economist can explain their economic theories to a person with no business knowledge and make themselves understood. That does not mean that the novice listener will understand it well enough to remember the jist of it a couple days later, but it does mean that most of it is not that darned complex. There can be some very hairy math involved and that gets into some seriously deep pseudo-science. Just take for instance one economic reality: increasing the minimum wage will increase the cost of employing people; this leads to reduced employment with higher cost goods and services; these all lead to reduced demand which creates recessionary pressure. It might also increase the demand for illegal labor and or foreign goods.