Economics courses do not teach how the economy works.

And the government is giving jobs to a big percent (%) of them: army, police, secret services, contracts for defense companies, developing infrastructure, paying research ($113 billions per year) - all those things create jobs. I would estimate that the government creates some 20% of the total number of jobs in the country.
You know, when spending all that huge budget, the government creates a lot of jobs.

I've found some data:
In fiscal year 2015, the federal budget is $3.8 trillion. These trillions of dollars make up about 21 percent of the U.S. economy - when you spend 21% of the GDP, that means you are actually creating pretty close to 21% of the jobs.

 

Smoking crack?
Citation needed for the first statement.
They make so much money because they suck the blood of the tax payers, of the workers and of the consumers in the first place. They have to pay much more taxes, in order to return what they are stealing from the poor.

the West is dragging billions of people in poverty in the third world using the IMF and the WB.

He saves the world by getting the money from the poor and giving it to the rich?

 

- That's why the economist experts keep telling to the public every day that we have to get the money from the poor and give it to the rich in order to improve the economy?
- That's why they claim that "speculation is good because it creates jobs"?
- That's why they have said that the economy is going very well right before the Economic Crisis ( 2008 ) ?
- That's why they support exporting the jobs to China?
- That's why they contradict themselves when they claim that "capitalism brings the best prices" while in the same time they claim that the engine of the capitalism is the desire to make more profits (and that means increasing the prices of the goods)?
- That's why they claim "the greed and the desire to accumulate wealth is the engine of growth and of the economy" - while in fact, the vast amount of private investors are actually happy to make just a decent living from their business?

 

- They (the criminal Banking Mafia) will create inflation whenever they see fit to collapse the economy of the country. They looted the Quantitative Easing money (4 trillion $US) and they can create inflation whenever they want by simply buying goods.
- Most likely, they will collapse the retirement funds too, in order to give a more spectacular artistic touch to the whole phony scheme.
- Maybe they will leak/release some consistent compromising data about the politicians involved in the looting, in order to infuriate the public and to direct their fury to the politicians, distracting them from the root of the problems - the Banking Mafia. Smart.
- It looks like their plan was to do it in 2018, in order to implement a world currency. They are in a hurry, and that's why they are so hysterical in attacking Trump, because the man stands in their way.

Radical changes require dramatic actions, isn't it? Maybe they would not even cry if Trump will have an "accident"?

 

This is childish comment. Macroeconomics derives quite diverse comment on all aspects, including the impact of inequalities on growth.

Ooo, unsubstantiated claim. Tell me where macroeconomists claim this. Make sure that your comment refers to a consensus!

Still wrong. Much of the profession fed off the post-Friedman (and co) bobbins. However, macroeconomics remained pluralist. From Austrian to Marxist, disaster was mentioned.

You want to dispute comparative advantage? Good luck! You want to deny new trade and new new trade theory? That would account for your original silly comment.

Who is this 'they'? Your conspiracy theory stance only shows your innocence of macroeconomics.

"The greed and the desire to accumulate wealth is the engine of growth and of the economy" derives no google hits. Wonder why!

 

then why is it done at gun point?

 

It isn't, else we wouldn't have so much evasion.

 

the beauty of capitalism is that all transactions are voluntary so not stealing in any known sense of the word.
the rich beg you to buy their products and must compete with everyone to be the best in the world at pleasing you. this is saintly and heroic
you want to buy from them to get their great products and then use govt to steal your money back. ITs a free country if you think they are too rich you are free not to buy from them and thus not make them rich.

 

no guns=no taxes. think before you post, liberal

 

I'm not a liberal, nor have you managed a valid response (as usual). The system is structured to ensure compliance among the lower income deciles and evasion opportunity for the richer ones. There isn't a gun point, there is acceptance for rent seeking behaviour.

 

A huge percentage work off the books and earn their money in the street. Sorry to rock your world.


Trillions Earned Under Table As More Work Off Radar : NPR
www.npr.org/2013/03/26/.../trillions-earned-under-table-as-more-work-off-radar
Mar 26, 2013 - But we also know that a lot of people are working but making ends meet by working off the books, under the radar, often for cash, and ..

 

Yes, if Hillary Clinton would have been president, the debt would have been $25 trillion already.
You know, for providing more free medical care, more welfare, for the accommodation for the tens of millions of illegal immigrants, for creating all kind of artificial and unproductive jobs etc.

 

It would have to take a particularly unhelpful economics education to conclude that Clinton was an economic radical...

 

Perhaps your problem is that "the economy" doesn't "work". Individual people behave, and economics is the behavioral science that tries to understand how people use their scarce means to achieve their ends.

To speak of "the economy" is similar to speaking of "the ecosystem". Yet the ecosystem is really just shorthand for the interplay between the organisms in that ecosystem. Likewise "the economy" is really just shorthand for the interplay between all the economic actors being studied.

 

And yet if you're not perfectly and utterly stupid, -and you're not, -then you got the point.

 

No I didn't. What was the point?

 

Good luck. He refuses to "get it".

 

I'm not playing your games.

 

Okay, I accept that you are unable to/afraid to engage in a rational discussion. Have a nice night.

 

There certainly is a problem with neoclassical economics. It uses maths to sell truth where no truth exists. Plenty of intelligent folk buy into it mind you. Its easy to study and easy to teach. The amusing aspect then is how right wingers get Econ 101 so dreadfully wrong

 

How in hell can you accept what wasn't offered? I know this is just more of you games.

 

Okay, I see that you are unable to/afraid to engage in a rational discussion. Have a nice night.

 

Not true. Since I created the thread, gave it its title, and centered it on the video, it would be laughably absurd to think I don't know what "the point" is. It's all there, so if you actually have any substantive argument or "debate", the ball is in your court. Otherwise you waste your time and mine.

 

Since your thread is about capitalist economics, could you please define capitalism.

 

Everyone knows what is meant be "capitalism". Rather than discuss the content of the video you want set traps and divert the discussion into those traps. More of your games. So I won't be replying to any more of your posts in this thread unless they are about the video.