tag:blogger.com,1999:blog-2761684730989137546.post3117946957108759105..comments2024-03-29T02:19:19.866-04:00Comments on Mike Norman Economics: Ben Schiller — Want To Stimulate The Economy? Cut Student Debt–Not Taxesmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-2761684730989137546.post-46027476733978814532018-02-14T06:49:26.707-05:002018-02-14T06:49:26.707-05:00Last 8 years was the Golden Era of the academe... ...Last 8 years was the Golden Era of the academe... and OPEC.... times are changing...Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-12348814378497191682018-02-14T01:46:55.916-05:002018-02-14T01:46:55.916-05:00It sounds like that you're better off leaving ...It sounds like that you're better off leaving school and becoming a plumber, a gas fitter, or an electrician now. Kaiveyhttps://www.blogger.com/profile/04195639305785321786noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-33981502424109650972018-02-14T01:36:48.193-05:002018-02-14T01:36:48.193-05:00GDP only shows how the rich are getting richer, ev...GDP only shows how the rich are getting richer, everyone else could be getting poorer. Kaiveyhttps://www.blogger.com/profile/04195639305785321786noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-2968169927117588892018-02-14T01:34:48.416-05:002018-02-14T01:34:48.416-05:00But don't cut car loans!But don't cut car loans! Kaiveyhttps://www.blogger.com/profile/04195639305785321786noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-72690888686956787662018-02-13T14:34:43.411-05:002018-02-13T14:34:43.411-05:00There are three measurement is ascending order of ...There are three measurement is ascending order of importance.<br /><br />1. GDP (economic growth measure in nominal terms)<br /><br />2. Standard of living (economic benefits available in different segments of a society)<br /><br />2. Quality of life (economic and non-economic benefits available in different segments of a society)<br /><br />While GDP influences living standards and quality of life, GDP does not determine this since living standards and quality of life are influenced by distribution of GDP, in addition to other factors that are non-financial (real, actual) and do not display well in financial (nominal) nominal terms.<br /><br />Regarding GDP and living standards, economics is about the cycle of production, distribution and consumption of real goods. Prices are not adequately reflective of actual production, distribution and consumption patterns. NGDP is only a record of price in transactions. RGDP is NGDP adjusted for inflation based on some arbitrarily constructed index.Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-26681531862530733852018-02-13T13:10:56.698-05:002018-02-13T13:10:56.698-05:00GDP is a bogus measure. Just like pretty much ever...GDP is a bogus measure. Just like pretty much everything that is measured solely by money. Noah Wayhttps://www.blogger.com/profile/12012500819097539976noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-51541516241363694492018-02-13T10:57:10.535-05:002018-02-13T10:57:10.535-05:00Ben Schiller is clearly a simple soul who has been...Ben Schiller is clearly a simple soul who has been fooled by the multiplier: the idea that there is some merit in dishing out money to the less well off because they spend a high proportion of it, thus one gets a bigger increase in GDP than by handing out the same money to the better off.<br /><br />The reason that is nonsense is that stimulus dollars cost nothing in real terms (as Milton Friedman explained). Thus if you have to print and spend $10 for each $1 increase in GDP rather than $1 for each $1 increase in GDP, it really doesn't matter.<br /><br />That is not, repeat not to say there isn't merit in supporting the poor: it's just the multiplier argument that is nonsense.Ralph Musgravehttps://www.blogger.com/profile/09443857766263185665noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-88613282353018979042018-02-13T09:16:19.115-05:002018-02-13T09:16:19.115-05:00Because it is serviced by banksters. For profit.Because it is serviced by banksters. For profit.Noah Wayhttps://www.blogger.com/profile/12012500819097539976noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-82731731395646721442018-02-13T06:42:57.966-05:002018-02-13T06:42:57.966-05:00This comment has been removed by the author.Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-79560970635456759272018-02-13T06:32:20.179-05:002018-02-13T06:32:20.179-05:00How about some facts???How about some facts???Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-51582867305273672682018-02-13T06:31:46.746-05:002018-02-13T06:31:46.746-05:00“About 90% of the $1.4 trillion is held by the fed...“About 90% of the $1.4 trillion is held by the federal government.”<br /><br />Then why are you lefties always saying it’s owed to the “banksters!” as part of “the neoliberal conspiracy!” ?????Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.com