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Difficult Economics Lessons

Jim3013 Wrote: Jul 11, 2012 3:18 PM
The left can't stand logical reasoning because... well, it doesn't FEEL good.
Joseph64 Wrote: Jul 11, 2012 4:21 PM
No, they don't like logical reasoning because if more people engaged in it, they would have no voter base left.
One of the more difficult lessons to teach economics neophytes -- and, many times, trained economists -- is that economic theory cannot say anything definitive about subjective statements, such as what's better, good, bad or worse. Let's try a few examples to make the point.

Cabernet sauvignon wine is better than fume blanc. Turkey is better than pork. Matter in the solid state is better than the plasma state. Each of those statements begs the question: Where's the proof? With subjective statements such as those, disagreements can go on forever. It's simply a matter of personal opinion. One person's...