Everything we know about economics is wrong

[ShackledNation]

Printing money causes inflation, nothing more yet you think it creates real wealth or is some sort of free lunch. 100% stupid as amy child would know.

It is not as simple as "more money=inflation." But then again, that was never the argument.

It sounds like you're saying printing money causes inflation, except when it doesn't.

I'm saying printing money doesn't cause inflation, because everything we think we know about economics is wrong.

So what about my argument (that you didn't bother to quote) do you disagree with? Or are you just going to ignore refutations of your OP and reiterate the title of the thread when proven wrong?

Let's try this: explain the difference between the concepts of scarcity and shortages with respect to the study of economics.

Since everything we know about economics is wrong, that would serve no purpose. But ok, I get it, shortage is short term and scarcity is long term. It doesn't make any difference. Virtually nothing is scarce long term.

No. Not even close. You say "everything we know about economics is wrong" and for you that is true, because everything you know about economics is wrong. The problem is you don't know much about economics.

Using time more productively does not make time less scarce.The man can still only work 20 hours per day. Whether or not he is farming using horses or not is irrelevant. If he spends 20 hours farming he cannot spend any time doing something else. You completely missed the point of the example

What IS the point of your example? Let me restate my point and maybe it will help you. For a farmer, there is enough time in a day to farm as many acres as he wants. That makes time not scarce.

So if the farmer wants to farm 10,000 acres, but only has the means and resources to farm 100 in the time of one day, there is time to farm 10,000 in one day? Really? You are flat out ignoring real world constraints. The point is to illustrate an example of scarcity. It seems not only do you not understand the difference between scarcity and shortages, but you do not understand the difference between time and productivity.

If you think a price floor is enough to completely remove a free market, then you really are confused.

A dairy farmer is not worried about the price of milk. A hog farmer is worried about the price of corn and the price of hogs, (the old corn / hog ratio) but just having that price floor causes dairy farmers to go full bore, and produce all they can with reckless abandon.

Irrelevant to the point that the existence of a price floor does not completely remove a free market.

Now try again tell me a resource that is scarce.

I already have. Nearly all of them. Time was an obvious example. And since you don't even know what scarcity is, and seem unwilling to learn what scarcity is, what is the point in pointing anything else out specifically? You have a faulty definition of scarcity.

Go back to class and pay more attention this time. What you think economics is all about, like you say in your OP, is wrong. The problem is, nobody ever thought what you think we did about economics. You are flat out clueless. Sorry to break it to you.

 

[EdwardBaiamonte]

If printing money causes inflation, why has inflation been so low the last few years, while the printing presses have been going full bore? Please explain.

too stupid!! Obviously because the money is not circulating, but rather being held as bank reserves. In economics we say there is little velocity despite the high quanity. You want to print it and give it out as welfare in which case it would be immediately inflationary.
Econ 101. You should be ashamed.

 

[EdwardBaiamonte]

I'm saying printing money doesn't cause inflation, because everything we think we know about economics is wrong.

too 100% pure stupid as always. All economists know that M x V=PxQ where V is velocity of money.

So how can everything be wrong? Please come back as Bruce the non-thinker.