Keynesian or Classical Economic Theory?

[patusai]

Keynesian. I was an Econ major in college back a long time ago. Don't use it now so I lost most of what I learned

[Sohan]

Keynesian. I was an Econ major in college back a long time ago. Don't use it now so I lost most of what I learned

What do you do now, Patusai?

With respect,

Sohan

[Havoc88]

Sohan, I see you are interested in economics. Did you study it? Maby you can recommend me some books or something?

Thanks in advance!

Tom

Got my MBA back in 2001, but it was in marketing. I've regretted since not pursuing accounting or finance, since it appears that's where the jobs are today. Jobs in econ are not easy to find unless you work for the government.

Books? Depends on your current educational level. I think you said you're 18, so I assume you haven't had too much business coursework in school yet. If you are ambitious, you could start with Adam Smith's Wealth of Nations, or John Maynard Keynes' General Theory of Employment, Interest, and Money, though if you have no economics background at all, Economics for Dummies is a surprisingly good introduction. It was written by Sean Flynn, who is a professor at Vassar.

The cool thing about Professor Flynn is that he is an expert in Aikido, as well as economics!

With respect,

Sohan

Thanks man. It's funny. I have already read Adam Smith's wealth of nations. It was really good! Well, that makes sense since it is the quarter stone of modern economics.

I found by reading this book that is is right on a lot of points, but that in a whole, I could have spend my time better on a more educational book. You do not get a comparison by reading this book, just his opinion.

This is why I think I will not start reading keynes book yet, although it will be worth the time. The opportunity costs are just to high I guess.

Economics for dummy's is also on my bookshelf. It was a very nice introductionary book to economics

Reading Strategic thinking by Nalebuff and Dixit right now. You should pick it up sometime. The message is really clear, but without a lot of math ( which I have to learn better, along with my english ).

Got that book from the library at the university and will ask it for my birthday nexth month, along with The Art of War - Sun Tsu.

After that I think I will grab a good introductionary economics book like economics by Lipsey and Chrystal.

An MBA, thats pretty cool man! Is that hard?

Tom

[patusai]

Keynesian. I was an Econ major in college back a long time ago. Don't use it now so I lost most of what I learned

What do you do now, Patusai?

With respect,

Sohan

I am a Security Director, Technical Services and Administration.

[Sohan]

An MBA, thats pretty cool man! Is that hard?

It was a lot of work, but probably more enjoyable than my BBA due to more specialized and advanced classwork, as well as the group projects and presentations.

I wouldn't say I've used it much, however. I should've gone criminal justice, accounting/finance, MIS, or even my PhD in Exercise Science. I feel that Marketing was really just a waste of time since I'm not employed in that field.

With respect,

Sohan

[Havoc88]

An MBA, thats pretty cool man! Is that hard?

It was a lot of work, but probably more enjoyable than my BBA due to more specialized and advanced classwork, as well as the group projects and presentations.

I wouldn't say I've used it much, however. I should've gone criminal justice, accounting/finance, MIS, or even my PhD in Exercise Science. I feel that Marketing was really just a waste of time since I'm not employed in that field.

With respect,

Sohan

But you didn't know that before you started the MBA. Probably the literature you learned wasn't that usefull but the way you learned it was really usefull, of am I wrong?

Tom

[Dazed and Confused]

I used to be a strict adherent of Adam Smith and Milton Friedman until I became interested in environmental policy and ecology (I'm studying for a BSc Environmental Management). The environmental impact of irresponsible capitalist enterprise has made me far more sceptical about the benefits of totally free markets.

[Havoc88]

I used to be a strict adherent of Adam Smith and Milton Friedman until I became interested in environmental policy and ecology (I'm studying for a BSc Environmental Management). The environmental impact of irresponsible capitalist enterprise has made me far more sceptical about the benefits of totally free markets.

Yeah, that's a great problem of the free markets. Some things are really difficult to give a price. Toxic waist, how do you put a price on something like that? That's where the free market fails.

I think you should utilize the free markets as much as possible, but definately not alway's. As long as all the information of a product or service is stored in the price, the invisible hand will do it's work.

Tom

[Sohan]

An MBA, thats pretty cool man! Is that hard?

It was a lot of work, but probably more enjoyable than my BBA due to more specialized and advanced classwork, as well as the group projects and presentations.

I wouldn't say I've used it much, however. I should've gone criminal justice, accounting/finance, MIS, or even my PhD in Exercise Science. I feel that Marketing was really just a waste of time since I'm not employed in that field.

With respect,

Sohan

But you didn't know that before you started the MBA. Probably the literature you learned wasn't that usefull but the way you learned it was really usefull, of am I wrong?

Tom

I am probably being a bit harsh in my assessment. Really, we should consider nothing we have done in our lives to be completely useless, no matter how much it may seem to be that way. It may just be that we don't understand the meaning or purpose at a given moment in time. Perhaps I don't make professional use of the tools acquired in my MBA training, but there were certainly other benefits, including the friends I have made and insight gained into what I really want from life.

It's a bit like traditional karate training. Will I become the most deadly fighter with this system as compared to perhaps another system? Maybe, maybe not. But I should hardly consider the time I have spent a waste. I have derived benefits of agility, strength, balance, and a calm awareness that I might not have gotten from another combat system. I also have made lifelong friends who share the philosophy of non-aggression and peace, which I can hardly say is the way of the modern combat athlete.

Sometimes the benefits that one derives from a life experience are not always immediately apparent until enough time has passed to gain sufficient perspective.

With respect,

Sohan