Saturday, January 16, 2010
Why do you think economists remain in place in some cases, do you think they allocate resources efficiently?
Economics is based on resource allocation in a perfect world. It is kind of like communism for capitalists. IF the entire world had the exact same policies toward ALL imports and ALL exports, and people in richer countries are willing to give up some luxuries (and personal economic security) in order for countries that are not as well off to improve, then at some point in the future (who knows when) everybody will be better off.
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