Tuesday, May 8, 2012

The Most Worthless - No, Dangerous! -- Degree


Economics is not just a worthless degree. It's downright dangerous.

One of my friends has a Ph.D. in Economics. He considers his colleagues to be clueless, semi-autistic loons. He now knows Ph.D.s are worthless...Master's degrees are worthless...Bachelor's degrees are worthless...even introductory classes are worthless.

Parenthetically, he told me students would come to his office and ask if he was teaching a certain class the next semester. No, he told them. Why?

Because I don't want to take the idiot African who got in on lowered standards, or the woman who makes math mistakes on the blackboard, they told him

I understand, but sorry....I'm not teaching the class next semester.

You can learn all the economics you need to know by reading a few books. One of them is Henry Hazlitt's "Economics in One Lesson," which was written in the 1940s.

Another is Murray Rothbard's "What Has the Government Done to Our Money?"

Those two books will give you 90% of what you need to know.

I proficienced Intro to Macro and Intro to Micro. I'll be damned before I spend a thousand dollars to take two bullshit classes when I could proficiency them.

The dean of the economics department came out and shook my hand. "This is nearly impossible," he told me.

I didn't tell him it wasn't hard. I just read the textbooks (Keynesian baloney) and thought about the concepts until I understood them.

The most public economists, such as Paul Krugman, don't know what they are talking about. In other words, they don't understand economics!

Such people are what I refer to as "high-IQ idiots." They think because they have advanced degrees, that somehow confers on them the ability to manage a multi-trillion dollar economy comprising 300 million people. And they really believe they can do it.

Anyone who believes that is a nut.

If these fake economists actually knew what they were talking about, the U.S. wouldn't be in the economic shape it is in. And has been in for the last three years, with no signs of getting better. Or even abating.

Wages would have stopped going up in 1973. For the matter, the average wage today is lower than it was in 1959.

Economics and political science should be one degree -- Political Economy. Even better, it should include basic law (Natural Law, that is), some ethics, and some religion. Then it should be called Political Philosophy.

One man who understands this is Richard Maybury, who knows that law comes first, followed by economics. The average person is never going to understand economics. But they can understand basic law, such as "Don't steal" and "Keep your word" (which, by the way, is where the religion comes in).

Those two laws created the free market.

On the other hand, the point-and sputter morons from Harvard, Yale and Princeton will continue to scratch whatever passes for their brains and wonder why their Looneytunes theories aren't working.

Because you don't know what you're talking about, that's why.

1 comment:

Anonymous said...

You summed it up, pal. I have an econ degree from a big university in the northeast and I've been wondering for years why no employer gives a damn about it. You hit it on the head. Keynesian thought is almost all baloney. I'm now self taught on the Austrians.