Studying economics at A level.

[durhamleft]

Have any comrades got any advice on how to deal with writing essays and what have you in which you basically have to right about the joys of free market capitalism in order to do well.
For example, the last piece of work we had was in essence in which we had to argue why the minimum wage causes unemployment.
It is infuriating as while they always bang on about the efficiency of free markets, the text books and teachers seem completely obnoxious to the absolutely barbaric and exploitative nature of capitalism. Has anyone ever had to deal with this? Thanks in advance.

[Triple A]

Have any comrades got any advice on how to deal with writing essays and what have you in which you basically have to right about the joys of free market capitalism in order to do well.
For example, the last piece of work we had was in essence in which we had to argue why the minimum wage causes unemployment.
It is infuriating as while they always bang on about the efficiency of free markets, the text books and teachers seem completely obnoxious to the absolutely barbaric and exploitative nature of capitalism. Has anyone ever had to deal with this? Thanks in advance.

If it is an important class keep to what your theacher wants you to do.
Get your diploma.

[RedMaterialist]

Have any comrades got any advice on how to deal with writing essays and what have you in which you basically have to right about the joys of free market capitalism in order to do well.
For example, the last piece of work we had was in essence in which we had to argue why the minimum wage causes unemployment.
It is infuriating as while they always bang on about the efficiency of free markets, the text books and teachers seem completely obnoxious to the absolutely barbaric and exploitative nature of capitalism. Has anyone ever had to deal with this? Thanks in advance.

You could repeat the free market bullshit; and then go into a short discussion of how, the bullshit notwithstanding, there is no evidence, nor has there ever been any evidence, of a causal relationship between the minimum wage and unemployment. There should be plenty of internet sites which discuss this. In fact, Marx once discussed how agricultural wages in the U.S. were consistently higher than in England, but agricultural products were cheaper, and unemployment, consequently, lower in the U.S. Wages, Prices, and Profits, Section 2.

[Revolution starts with U]

That is bias as all get-out and I would report it to the dean of the school of economics.

[¿Que?]

You could make all the arguments your professor wants you to make, and for each one, make an argument about the consequences of the alternatives. Then in your conclusion, write that since neither way will work, capitalism is not viable and needs to be replaced with a better system.

[Zanthorus]

Take Steve Keen's advice:


Just treat economics like a game of chess, play the games the exam questions require of you, and you'll pass easily (just don't mention the inconsistencies in the rules!)

[El Rojo]

economics = capitalist economics. at the end of the day it is a study of 1 system of economics to the exclusion of all others and including any other economic mode can be difficult

[Revolution starts with U]

Actually, if you want a better in class tactic than all of this, it would be to go the extra step. Tie it all together, bring in things you wouldn't even be discussing in class, and show their limitations.
non/anti-historical analysis (all theory, no data)
marginal theory of wages (race to the bottom)
micro banking
scientific research would be (and was) nearly non-existent sans public funding; stagnation. And beyond this, sophistication of capital and it's effect on productivity.
quasi-private central banking; inflation for inflation's sake
bring up a lot of history of the labor movement and tie it directly to the modern standard of living; something a capitalist cannot do (their standard of living theories are all indirect, based on a theorized constant rising standard of living)
Corporate personhood and the slavery of the modern business model (if a corp is a person, how can a person own another person?)
Your teacher is most likely some stooge who never made it past grad school. Blow his mind with some PhD level shit

[Summerspeaker]

Economics makes sense within its own framework. Understanding the theory might come in handy. Under current circumstances, a sufficiently high minimum wage would obviously cause either unemployment or illegality. That's not a problem; you can turn it into an argument against wages and/or private property in the first place.

[gorillafuck]

To be honest, an extremely high (high compared to the norm right now) minimum wage could cause more unemployment (though that doesn't mean we shouldn't support workers struggles for higher minimum wages), in the context of the capitalist system. This is a problem with capitalism, so I don't see the big deal in acknowledging it.

[KC]

Minimum wage doesn't increase unemployment. The theoretical argument that is made to support that claim has no basis in empirical reality.

[gorillafuck]

Minimum wage doesn't increase unemployment. The theoretical argument that is made to support that claim has no basis in empirical reality.
It generally doesn't, but there are certain situations that having to substantially increase wages could cause a smaller business to have to layoff employees.

[KC]

Yes but we're talking about a macroeconomic level not an individual "small business". That is, in fact, the very argument put forward by the morons that assert the belief that the minimum wage causes unemployment.

The argument generally goes like this: a business has x amount of resources to put towards paying employees. If the minimum wage is increased, then it will be divided amongst fewer employees which means that they will have to lay some off. Throw in some supply/demand graphs, write in a technical manner to sound smarter and you've got yourself a PhD level critique of the minimum wage.

The fact is, though, that on a macroeconomic level a minimum wage means an increase in pay for workers, which means an increase in consumption, which means overall economic growth and therefore an overall increase in jobs and a decrease in unemployment.

EDIT:



... found no evidence that minimum wage increases in the range that the United States has experiences led to job losses. Their work [Card & Krueger Study] has been attacked because it seems to contradict Econ 101 and because it was ideologically disturbing to many. Yet it has stood up very well to repeated challenges, and new cases confirming its results keep coming in.

See Myth and Measurement: The New Economics of the Minimum Wage (http://www.amazon.com/Myth-Measurement-David-Card/dp/0691048231) by Card and Krueger.

[gorillafuck]

Yes but we're talking about a macroeconomic level not an individual "small business". That is, in fact, the very argument put forward by the morons that assert the belief that the minimum wage causes unemployment.
You could have other provisions to cancel it out easily but if a state rose the minimum wage but did nothing else, I don't see how it wouldn't have any effect.

This is theoretical "what if" talk though, not reality. And you're right that in real life situations that doesn't really apply.

[Revolution starts with U]

Even theoretically the min wage argument is bogus if taken in any kind of historical/reality context. Most/all states have protections for small business' not subjecting them to the minimum wage. And big businesses rarely meaningfully impacted by it, except in their returns to shareholders.

[Oswy]

Have any comrades got any advice on how to deal with writing essays and what have you in which you basically have to right about the joys of free market capitalism in order to do well.
For example, the last piece of work we had was in essence in which we had to argue why the minimum wage causes unemployment.
It is infuriating as while they always bang on about the efficiency of free markets, the text books and teachers seem completely obnoxious to the absolutely barbaric and exploitative nature of capitalism. Has anyone ever had to deal with this? Thanks in advance.

By chance I've just got my hands on a book recommended by another Revleft poster because I wanted to get a grasp of some economic theory which wasn't just the same old "capitalism is wonderful" shit.

The book is:

The ABCs of Political Economy by Robin Hahnel (Pluto Press, 2002).

I've only just finished the first chapter but I'd already recommend it to anyone else as a starting point. Some of the chapters look a little technical but most of the book is narrative, i.e. the explanations are mostly in words - which suits me better. It's not a cheap book but if you can get it I think it will make you much happier; the first chapter alone has some great core concepts.

And, if you're going to argue or discuss the recent economic crisis definately get your hands on this book:

The Enigma of Capital by David Harvey (Profile Books, 2010).

This book is a very pleasurable read, no jargon just solid mixture of theory and facts from a Marxist perspective about why capitalism keeps generating crises.

Get these two books and you are off to a flying start.

[PoliticalNightmare]

You've got to admit though: it sure as hell is fun to play devil's advocate :D

[jingle_bombs]

"It is the mark of an educated mind to be able to entertain a thought without accepting it."

I suggest OP follows Aristotle's advice.

[Amphictyonis]

Have any comrades got any advice on how to deal with writing essays and what have you in which you basically have to right about the joys of free market capitalism in order to do well.
For example, the last piece of work we had was in essence in which we had to argue why the minimum wage causes unemployment.
It is infuriating as while they always bang on about the efficiency of free markets, the text books and teachers seem completely obnoxious to the absolutely barbaric and exploitative nature of capitalism. Has anyone ever had to deal with this? Thanks in advance.

Tell your teacher unemployment is a structural component of capitalism. Without it megalithic profits cannot be made. Alan Greenspan had admitted that the bourgeoisie, in the form of the Fed, purposely raises interest rates if unemployment is getting to low as to keep a perpetual unemployment rate of about 4% (official numbers). The real perpetual unemployment rate is around 6 or 7%. This isn't the result of minimum wage. It's the result of capitalists keeping wages down in the name of profits. The lower the unemployment the less people are available for the capitalists to hire. If there is no 'reserve army of labor' workers with jobs can demand more wages, better benefits and work place conditions and the capitalists would have no choice but to conceded.

Fuck your teachers by the way- I'd rather call them propagandists. Smut peddlers. Liars. But don't tell them any of that. Tell them the free market is jesus and can cure cancer.

Who he hell is this crazy bearded guy?

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