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Forum: Dollars & Cents

05-02-2009, 10:12

Replies: 62

First Law of Economics?

Views: 7,789

Posted By GordMay

Bill: I presume you were using the American...

Bill: I presume you were using the American system.

The system used in the U.S. is not as logical as that used in other countries (like Great Britain, France, and Germany). In these other...

Forum: Dollars & Cents

05-02-2009, 08:52

Replies: 62

First Law of Economics?

Views: 7,789

Posted By GordMay

We seem to be conflating Money with Wealth. As...

We seem to be conflating Money with Wealth.
As Adam Smith understood, money itself is not wealth; instead, it is a good that we use in order to obtain wealth.
Wealth is something that has real...

Forum: Dollars & Cents

05-02-2009, 02:42

Replies: 62

First Law of Economics?

Views: 7,789

Posted By GordMay

I always thought that the first two laws of...

I always thought that the first two laws of economics were:
1. For every economist, there exists an equal and opposite economist.
2. They're both wrong.

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