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Inequality and the Poverty of Economics

The Journal of Economic Perspectives is an academic journal that summarizes the state of research in various fields of Economics.  Perusing this journal shows the extreme political bias of much of modern day economic research.  The Summer 2013 issue was devoted to "income inequality."  The main theme was that rich folks are getting richer, but, of course, the facts actually show just the opposite.  Not deterred by the facts, the various economists that opine in this edition blithely parrot absurdities such as wealthholders ability to "sustain their preeminence. What is the analysis?  Imagine that you wanted to know if baseball teams created dynasties and "perpetuate" their dominance of baseball.  What facts would you want to assemble to prove this? Here's the way economists think:  collect data that shows that back in the old days, the baseball teams that won the pennant won 65 percent of their games each year.  Then show that, today, the teams th...
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Remembering Bukit Merah

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Mitsubishi Quietly Cleans Up Its Former Refinery Rahman Roslan for The New York Times Lai Kwan prepares to bathe her son, Cheah Kok Leong, who was born with severe mental disabilities. She believes that his condition is related to the radioactive exposure she received while working at the Mitsubishi Chemical’s refinery in Bukit Merah. By  KEITH BRADSHER Published: March 8, 2011 RECOMMEND TWITTER LINKEDIN SIGN IN TO E-MAIL PRINT REPRINTS SHARE BUKIT MERAH, Malaysia — Hidden here in the jungles of north-central  Malaysia , in a broad valley fringed with cave-pocked limestone cliffs topped with acacia and durian trees, lies the site of the largest radiation cleanup yet in the rare earth industry. Residents blamed a rare earth refinery for   birth defects   and eight leukemia cases within five years in a community of 11,000 — after many years with no leukemia cases. Seven of the leukemia victims have since died. The Bukit Merah case is little known even elsewhere in Mala...
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Always An Alternative

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You notice a trend here ... all come from the same school of thought, same MBA course ... always offer an alternative choice to any problems or issues. Remember that any problems or issues you encounter from the rakyat is always their fault. As ministers, "to serve the public" should never be taken to heart.
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