06-29-2007, 02:58 AM | #41 |
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Okay, so in my limited understanding, this is saying that as long as someone here is more skilled than workers other countries, their wages will increase, while those with the same or less skill will decrease to be on par with the wages of the other countries.
Is my statement a correct application of the theorem? (Sincere question; my entire economics education consists of Kearl's Econ 110 class 5 years ago.) edit: Page 5 pwnt |
06-29-2007, 03:01 AM | #42 | |
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06-29-2007, 03:04 AM | #43 |
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06-29-2007, 03:06 AM | #44 | |
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Friedman submit improper management by the Fed or its predecessor caused or at least worsened the Great Depression.
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06-29-2007, 03:07 AM | #45 | ||
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Money is only worth what it can buy. Money is only worth what it can buy. |
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06-29-2007, 03:07 AM | #46 | |
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Man that sounds harsh saying it, but I do beleive that the country is overall better off by lower prices such as found at Walmart. Otherwise we're all just subsidizing someone who doesn't have the job skills to get a higher paying job. Now if you ask my F.I.L, he will tell you that Walmart, and basically anything made in China, are the devil (spoken in Bobby Boucher's mothers' voice). |
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06-29-2007, 03:08 AM | #47 | |
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Right now, everybody in the US, except the bottom few who do not receive adequate education and skill development, is rising or at least staying the same in terms of standards of living.
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06-29-2007, 03:10 AM | #48 |
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06-29-2007, 03:11 AM | #49 |
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No, actually at BYU we just go over models and solve equilibriums like it's math class. We don't read. All I learned was that money supply is used to control inflation.
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06-29-2007, 03:12 AM | #50 | |
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Anyway, I'm way out of my element and just fooling around. I really do have grave concerns about the impact of globalization on the lower half of the American workforce. But I know nothing about economic theory and I was having some fun. (I thought the oil in China would be the giveaway there but I guess not.) |
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