Thursday, April 30, 2009
we are thrilled to have you
Perhaps the name of our econ 421 class should be changed to the "economics of politics". Granted, we as a class have decided that not too many politicians adhere to economic principles when making political decisions. The big button issue in politics right now is the switching of political parties by senator, Aries Specter. Where do his loyalties lie? With the people with whom he was elected to represent, or does he simply intend to further his own personal political agenda? the economics of a free market state that resources will allocate themselves accordingly and in time achieve equilibrium . if we look at the senate as a type of market and Specter as a resource, his actions can be been seen as justifiable. he is naturally progressing in a direction of efficiency. Yet, the political realm is no market of free flowing services and goods but a government sanctioned body in which individuals are elected by people to service the interest of the people and not their own.