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A friend of mine once said: You know what the problem is with being an economist? Everyone has an opinion about the economy. No body goes up to a geologist and says, 'Igneous rocks are fucking bullshit.'
This subreddit is the repository for all of the woeful, antiquated, or plain old misguided notions Redditors post about how the economy works.
Rule I
-Please post a small explanation on why what you have posted is bad economics, doesn't have to be thesis, but sufficient length to provide context. You have one hour to post an explanation or else it will be removed until you provide an explanation. A few sentences and counterexamples are enough.
OP must write an R1. Other redditors are encouraged to provide R1s and more information.
If an R1 is not written within one hour of submission, it will be removed until an R1 is provided. Insufficient R1s will also be removed within an hour until an updated R1 is submitted.
This R1 was determined by popular vote on 6/2/2015. Results here.
Rule II
http://np.reddit.com/r/shittyeconomicssubreddit/comments/2hk6y9/Bernakebadtouchedmybitcoin/cktu48h
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Slavery - Renting Vs. Owning labour (self.badeconomics)
CaptainBloodloss が 30分 前 投稿
A long time ago I heard someone recite to me what I thought was a powerful argument for slavery (if there every was one). I don't remember what the source of this thesis is, but I believe it came from a slave owner somewhere in southern US.
The slave owner basically argues this: You Northerners... you simply rent your labour (through wages); you therefore have little incentive to care for your workers. Where-as we Southerners... we own our labour, and because we own them we take better care for our workers. As a result, our workers are better off.
Thoughts?
[–]venuswasaflytrap 0ポイント1ポイント2ポイント たった今 (0子コメント)
Historical evidence doesn't lend credence to this theory. Slaves were treated terribly - much worse than comparable paid labourers at the time. So we know the argument is not true - but that's just badhistory rather than bad economics
Relevant thread:
http://www.reddit.com/r/badhistory/comments/3886v6/slaves_werent_treated_that_bad_guys/
I'm sure you could contrive an economic argument for why this isn't true, but the evidence is pretty clear that it's not.
π Rendered by PID 20248 on app-142 at 2015-06-24 10:33:35.026483+00:00 running bc329da country code: JP.
[–]venuswasaflytrap 0ポイント1ポイント2ポイント (0子コメント)