If only we had more Keynesian and Marxian economists. Dr Wolff himself says that economics aren’t nearly as complex as the courses would make you believe, and the formulas are intentionally complex to create an air of legitimacy.
Basically econ is a real thing that mostly serves as a right wing club to pretend austerity is good.
It’s funny that every econ course starts with the supply/demand curve, as though competition is ever perfect. Modern business is all about barriers to entry and cashing out way more than the joke that is the supply/demand curve.
Hell, fast food in the past few years has gone to tiered pricing roughly based on income (your willingness to use their app and jump through particular hoops). Tell me how the supply/demand curve accounts for charging some people $4 and others $8 for the same burger?
Except in this case the simplified lesson is misleading and damaging. Students leave that lesson and, unlike physics, believe that’s how the real world works.
If only we had more Keynesian and Marxian economists. Dr Wolff himself says that economics aren’t nearly as complex as the courses would make you believe, and the formulas are intentionally complex to create an air of legitimacy.
Basically econ is a real thing that mostly serves as a right wing club to pretend austerity is good.
It’s funny that every econ course starts with the supply/demand curve, as though competition is ever perfect. Modern business is all about barriers to entry and cashing out way more than the joke that is the supply/demand curve.
Hell, fast food in the past few years has gone to tiered pricing roughly based on income (your willingness to use their app and jump through particular hoops). Tell me how the supply/demand curve accounts for charging some people $4 and others $8 for the same burger?
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Except in this case the simplified lesson is misleading and damaging. Students leave that lesson and, unlike physics, believe that’s how the real world works.
deleted by creator