Stimulate the economy? Fast Draw, video from CBS


Here’s a video from the guys at Fast Draw, about economic stimulation, offered first on CBS Sunday Morning on February 17. Great stuff for a high school economics course.

Will CBS make this available for teachers?

There is a commercial you gotta view for 15 seconds prior to the video — my apologies.

from www.cbsnews.com posted with vodpod

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2 Responses to Stimulate the economy? Fast Draw, video from CBS

  1. Ed Darrell says:

    I tend to agree with you absolutely — we are way, way too materialistic, we overspend on homes, we need to get better priorities.

    Still, I think the Fast Draw piece is a good description of what happens with “economic stimuli” in the real world. One of their examples is a $350 billion program (hope I have the figure right), but the reason for the program is to clean up pollution. Lots of jobs, but better not to pollute in the first place. That plays into Henry Hazlitt’s famous examples of whether war is an economic boon (no, since the money to arm and rebuild destroyed venues could have been spent anyway, on improving the old stuff, not just getting back to where we were), and it tails neatly into Phillip Crosby’s “quality is free” shtick for manufacturing economics.

    As a prescription, that piece has lots of holes. As a description, I think it is suitable for classrooms.

    But I’m gonna look at it again! You raise good, serious issues.

    Like

  2. Dorid says:

    Generally Sunday Morning is the only news I watch on CBS, because of the positive slant. But putting this in schools? I think that would be problematic.

    I don’t think schools should be focusing on telling kids that money is the most important thing anyway, but I have a problem with “better” being depicted as women who stay home and have babies. Sorry, we just got OUT of that mindset.

    There is a problem with America at the core, and it’s individualism and capitalism: the idea that an individual will, if working hard enough, have more than anyone else. New homes are getting larger and more extravagant, and young couples (and individuals) are not only buying homes beyond what they can afford, but beyond what they need. OK, not just young couples… I knew a couple in Atlanta who had no children at home, yet bought a 5 bedroom home with two living areas and a home office…. WHY? and a single woman entering menopause who left her two bedroom home for a 4 bedroom home in an upscale neighborhood. Again: Why?

    Kids get in on the competition young, wanting the hottest game system, newest phone, and designer clothes to gain status. I absolutely agree that this is all problematic. But where volunteering and stay at home motherhood are (to some degree) beneficial to society, they don’t provide food and shelter for those engaging in those activities. This simple minded approach vastly oversimplifies the problem, and is dangerously generational and gender biased. Should only the retired volunteer? Should women stay home? Or is the answer somewhere else?

    Dr Constanza makes some good points throwing out his platitudes, but he forgets one: “Money is power.” We have to focus on changing our basic desire for power and status to quality of life. This is a major shift from what the national ideology and the ever inflating American Dream. I hope that’s what the video was trying to get at. I think they could have found better examples.

    Like

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