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Showing posts from February, 2008

Economics is largely bullshit

an uninterrupted rant-

My economics teacher would have me believe that the world is made up of small businesses, or perhaps more accurately, big businesses that act like small businesses. This is the theory. Capitalists justify expropriating excess profits because they are the ones who take the risks. In reality, risk is gone. Bankruptcy is profitable. Management walks away with millions while workers lose their savings. We watched a video explaining how outsourcing was actually a good thing because companies were then able to invest their extra profits back into the economy and create better, higher paying jobs. Right, tell that to the millions of people that work in the low-paying service industry after their high-paying manufacturing job went to some country that virtually enslaves their workers. My guess is that money the corporation saved went into the CEO's 5th or 6th new home. China's industrial boom has diverted social spending away from rural areas. It's also cause…