So, I’m causing myself considerable grief by reading some idiot’s critique of “capitalist economics”, and I’m overwhelmed by the naked ignorance of the whole thing. Since the author can’t even define marginal utility properly, it is obvious that the author hasn’t even bothered to grasp the Lies To Children version of economics taught in econ 101, let alone the real stuff of econ 601. “Capitalist economics”? What a moron. As though, outside of capitalistic economies, people don’t have preferences, people don’t learn skills at different rates, and they are scrupulously honest.
Why is it that every half-wit who can operate a keyboard thinks she can teach econ.?
Just because the OP didn’t use the grammatically incorrect pronoun “they” and instead chose “she” (referring to the specific example mentioned, who was a woman), you assume that the OP is sexist?
Marginal utility is the utility you get out of the next good of the same type you buy. For example, if you have 4 apples and get 20units of utility, and would get 22units of utility if you had 5 apples, your marginal utility is 22-20 = 2units of utility per apple.
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As for the question, the authors you refer to don’t think they are capable of teaching eco. They just think they can change the world.
And, quite frankly, they’re right: if first-year econ. were a prerequisite for leading a revolution, we’d all be still living in the stone age, wouldn’t we?
And, if everybody were as smart as Cecil is, what kind of a world that would be?
It would be like that Simpsons episode where the Mensa members get to run the town.
Yup.
I disagree, and I agree. I think they (assuming the piece represents the views of the organization) are trying to teach econ., at least what’s relevant to their concerns–which is fair. But what they’ve got, they seem to have gotten wrong. It bothers me that they’re claiming to give the straight dope on “capitalist” economics, and they can’t even get a pretty basic premise right. (And to the extent that the cause is based on the aforementioned straight dope, the cause is based on false premises.)
I’m sure it happens alot everywhere. I worked for a traffic engineer and every Trish, Di, and Mary coming through the door thought she was an expert in traffic engineering. Okay, that was egregious, for samclem’s benefit. Men & women are equal opportunity faux traffic engineers. And economists.
Yeah. Alot of my textbooks use he & she in alternating chapters. I just got into the habit because I like the way it sounds. Besides, if I’m imagining situations, they might as well have women in them, no? And since I saw no author credit, I couldn’t guess from the name.
You mean there’s WRONG information on the internet?!! Well, let’s call in the Information Police! You want to submit everything you publish on the internet to a panel of “learned experts” before it can be posted? Or printed? Or broadcast?
That’s the alternative, you know.
EVERYONE, myself included, has some stupid and wrong ideas about something or other. Some of us are extra passionate about our stupidities, and wish to share them.
