Nobel Prize Winner Paul Krugman, Princeton, on the Economy

1539   12 years ago
justgenius | 0 subscribers
1539   12 years ago
Princeton Professor, Nobel Winner 2008.
For the latest Paul Krugman, go to ‪http://PaulKrugmanBlog.com‬ - 
You can't make sense of the world out there without knowing anything about economics. How can something that was working great a couple years ago have fallen into a ditch. If you want to know why the price of food went up, you need microeconomics to evaluate the arguments. You need to understand the basics of both micro and macro economics. You don't have to be political, but you can try to be fair. There is more than one view. You want to try to understand the arguments of those people who hold alternative views. Perhaps 15% of economics is political. If you were to ask the question of who pays a tax, like the payroll tax, part is paid by the employer and part is paid by the employee. But every economist knows that the entire tax is borne by the employee. Some people think that high unemployment is caused by high tax rates. Even if you don't think an economist is right, you should consider their views seriously.
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