Wednesday, February 11, 2009

Why all HS and College students should learn Econ:

I've long asserted that the three topics which are systematically undertaught to high school and college students in this country are philosophy, statistics and economics.

One needs only to look at the comments on this article to understand why economics falls into that category:

http://www.businessweek.com/blogs/money_politics/archives/2009/02/h-1b_visas_buy.html?campaign_id=rss_daily

No, banning H1-b workers from working in the US doesn't save American jobs. It saves American jobs in that particular sector for a short period of time, but ultimately costs the American economy jobs. Look up the Smoot-Hawley Tariffs if you want:
http://en.wikipedia.org/wiki/Smoot_hawley

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