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Teaching Economics

TheProtectionist Wrote: Jul 04, 2012 6:19 PM
Karl Marx suggested free trade as the fastest means to destroying capitalism, while Daniel Webster claimed the primary reason we have our US Constitution was to stop the economic chaos unleashed by free trade with Britain under the Articles of Confederation. Yet, astonishingly we have three political parties which have adopted unwittingly Karl Marx's advice, while the Chinese have adopted Webster’s advice. Making sense of this dangerous state of affairs with a new theory of economics is the goal of Read and understand our decline.
Having taught economics at a number of colleges for a number of years, I especially welcomed a feature article in the June 22nd issue of The Chronicle of Higher Education, on how economics courses with the same name can be very different at different colleges. It can also be very different when the course is taught by professors in the same department who have different approaches.

The usefulness of the three approaches described in the article depends on what the introductory course is trying to accomplish.

One professor taught the subject through a steady diet of mathematical models. If the introductory economics course...