Quote Of The Day

“It’s one thing to cram supply-and-demand analysis into students’ short-term memory. It’s quite another to get them to think like economists when they see a real-world issue. For example, consider a bill to force Wal-Mart to provide health insurance to its workers. I am not saying that economists should teach people to oppose such a bill, but someone who really understands economics would at least consider the effect that this could have on the wages and employment opportunities that Wal-Mart offers. My guess is that most people who take high school economics, or even Ec 10 at Harvard, fail to make that connection”. –Arnold Kling, discussing the lack of economic knowledge by the general public and even those who should know better

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