Comments on: Yeah, this is Going to Work

By: Spruance

Spruance — Sat, 12 Jan 2008 19:31:19 +0000

Yes,economic education of any worth does not exist in Germany. Politicians love to talk about “Marktversagen” (failure of market) when their attempts to regulate someting have unintended consequences. And they never have to wait long for calls to ‘correct’ those ‘failing’ markets!

By: Spruance

Spruance — Sat, 12 Jan 2008 19:30:47 +0000

By: Jimk

Jimk — Sat, 12 Jan 2008 00:59:37 +0000

I can only imagine the adverse selection effect this must have on Germany and France. If you accept your status quo place in either or management or labor things are ok and you fit into your role. But if you are creative or an entrepreneur it seems your best bet is to go somewhere else, like London. Curious if any Europeans can weigh in on this question?

By: Paul

Paul — Fri, 11 Jan 2008 23:44:44 +0000

I tell you how bad economic education is, here in Germany:
All the negative impact, China’s price regulations will have, will be regarded as the “shady side of Capitalism” in German press. Wait and see…

By: Mark Alger

Mark Alger — Fri, 11 Jan 2008 23:20:33 +0000

I'm reminded of Robert Heinlein's definition of a liberal as someone who accepts that water runs downhill, but prays to God it'll never reach bottom.

By: Max

Max — Fri, 11 Jan 2008 16:42:06 +0000

It's worse than McArdle persumes, because most germans are not even ignorant to economic mechanisms, but they also get taught in public schools that those mechanisms don't work or don't apply.
Also, there are no economics courses in high school, the best I had was "Gemeinschaftskunde", means something like social and social class education. In these classes the imperative of the superiority of Keynesianism against free market (deemed American Style economics) is still common sense. It is taught that prices can be regulated and set though the actor in setting prices changes between a depression (government) and a haute (entrepreneur).
It's unsettling to see that ignorance is bliss and given that Gymnasium (high school plus first two years of college) is the highest form of non-University education in Germany, this is even tragic.

Perhaps education might be partly responsible for the high turnout of socialist economic policy not only in the government, but also in the mind of the people.