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It's Because the Rich Designed It!

Economist Michael Hudson is the best at explaining "Classical Economics" vs. Neoclassical or Neoliberal Economics." Classical Economics emerged after the French Revolution which ended the Feudal System of lords and serfs. Classical Economics started with Adam Smith and ended with Karl Marx. Among other things, they argued that government should tax "unearned income" - like rents, and income from investments because it was too much like the income of feudal lords.

The rich so objected that they started Neoclassical Economics (now called Neoliberal), and the first sold-out economist was John Bates Clark (1847-1938), who argued . . . Well, in today's terms, argued that Paris Hilton earns her money. There is still a "John Bates Clark Award in Economics!"

The point here is, the current economic thinking in America is a sham economics invented by the rich for the rich. Worse, the rich have paid to have it taught in most Universiti...See More

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