The task of economics?
a) is at its peak
b)is threatened
c) must be broadened
d)must be retained
e)threatened Johnson's war against poverty
Answer:
yea i got c
c most likely
Economics apologizes for its perfect mathematics being empirically violated by the world. The more complete the economic control from the highest levels, the more horrendous the resulting economic debacle. Nobel Laureate/Economics Milton Fiedman and his Boys form Chicago: "Whip Inflation Now!" in the US, then Augusto Pinochet's Chile.
1) You have a budget and are buying for yourself. You care what it costs and what you buy - local control works.
2) You have a budget and are buying a gift for somebody else. You care about the cost but it could be green socks for all you care - professionally managed enterprises are inefficent for uncoupling price and cost.
3) You have an expense account and are buying something for the boss'' mistress. It will be expensive flashy crap - military procurement, mandatory State charities, socialized medicine, central economic control overall. Prices go wild, quality disappears, ruin follows.
Would you care what medical care costs if you were paying for it yourself? Does the State care what medical care costs? Are medical care costs skyrocketing? Why is that? Let's hire an economist and find out.
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