Monday, September 06, 2004

Economic Chicken Littles

Am I the only one that has had enough enough sky is falling rhetoric from the Left? When they arent busy defending Kerry's patriotism, they usually take a casual swat at the current state of the economy and how Bush is responsible for all sorts of ecnomic woes. For a great example of this, read along as the Q and O guys fact check the NYT and show what sort of doublespeak the Left likes to hide behind.

In my eyes, there is a more glaring problem than this. The average American is susceptible to these sorts of stories because they dont understand basic economic principles. I have to digress for a moment and explain that I am an economics geek. It was what I got my B.S. in and even though I don't get many opportunities to employ my knowledge while I am flying along at 420 knots, I love keeping up with it and it definitely helps enhance my understanding of the political landscape. Back to the story though. Here is one of my favorite economic fables: "Deficits are bad for the American economy". I can't begin to describe how many times I have heard this. It takes about 60 seconds of explanation to help people understand the problem with that statement.

Here are some books and links for those who A) want a better understanding of basic economics or B) want to help a friend do so.

  1. Naked Economics is a book I just recently read. Even though its obvious the author has some liberal leanings, he presents an intellectually honest and easy to understand primer on economics.
  2. Economics in One Lesson is a classic. Though slightly outdated, it still demands a read.
  3. The Bureau of Labor Statistics and Bureau of Economic Analysis are great links for raw data

There are many more resources than these, please check my links for more. The point here is that Americans are being force fed this chicken little nonsense when in fact the sky is firmly in place. Lets put chicken little back in his cage by educating people about economic reality in America.