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"The problem with socialism is you eventually run out of other people's money" - Margaret Thatcher "The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design" - F.A. Hayek
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About Me
- Randall Parker
- I am a Professor of Economics at East Carolina University in Greenville, NC. My research focuses on macroeconomics and economic history in general and the economics of the Great Depression in particular. I have authored two books, Reflections on the Great Depression and The Economics of the Great Depression: A Twenty-First Century Look Back at the Economics of the Interwar Era and edited The Seminal Works of the Great Depression. I am currently working on my fourth book Interwar Historical Antecedents of Modern Inflation Targeting and I am the co-editor (with Robert Whaples) of The Handbook of Major Events in Economic History and The Handbook of Modern Economic History. I have also traveled the country giving speeches on the state of the macroeconomy and other economic issues to many trade and business associations. When I am not thinking about the economy I am either chasing ducks, handicapping horses or arranging a fine dining experience. Lastly, the opinions expressed on this blog are mine alone and do not reflect upon East Carolina University in any way or manner, in whole or in part, now and forever more under the canopy of heaven.
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- Economics of Health Care (55)
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- Thought for the day (1)
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- War on Terror (25)
- World Oil Markets (16)
4 comments:
All of this talk about cutting SS outlandish. Even if it were needed, no politician would stick his neck that far over the line, much less enough politicians to get anything passed.
IF? IF? If they won't stick their neck out then as the late great Herb Stein said, "something that can't go on forever, won't." And it won't. See my postings on Social Security under the heading "800 pound entitlement gorilla." Social Security could be fixed in 5 minutes if there was any mathematical common sense and today's younger generation would give up their pie-in-the-sky promised benefits that can not be delivered. BTW, what do you call Paul Ryan and what he is doing?
The "people live longer" fallacy always gets me. Just because the life expectancy has increased, doesn't mean that people are living longer. The vast majority of the increase in the US life expectancy is due to advances medicine within neonatal and child care. Regardless, SS is still a joke.
Hi Marvin: Thanks for the visit. But for you to say that greater life expectancy does not mean people are living longer definitely implies you are suspending the laws of mathematics. You may do so if you wish, and I will still welcome you as a valued (although somewhat confused)friend.
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