The whole “econ 101” bit has always been hilarious to me because in any other field of study I feel like the general understanding is a “101” course, undergrad whatever, is going to be intentionally simplified for the purposes of teaching broader ideas but as you learn more you find these explanations are inadequate on many levels. With economics however that surface level understanding is apparently enough to allow you to speak with confidence
Exactly. This is the level of understanding employed by those saying that the economy is doing well. It's a cynical tactic to paint it in a rosy light as the wage workers struggle.
Also, I've only been through 100 level econ classes and it's clear that the economic metrics in use are not particularly meaningful.
The whole “econ 101” bit has always been hilarious to me because in any other field of study I feel like the general understanding is a “101” course, undergrad whatever, is going to be intentionally simplified for the purposes of teaching broader ideas but as you learn more you find these explanations are inadequate on many levels. With economics however that surface level understanding is apparently enough to allow you to speak with confidence
Exactly. This is the level of understanding employed by those saying that the economy is doing well. It's a cynical tactic to paint it in a rosy light as the wage workers struggle.
Also, I've only been through 100 level econ classes and it's clear that the economic metrics in use are not particularly meaningful.