Wednesday, October 17, 2007

One of the things that has always bugged me is that high school never teaches real economics. Sure, you get one semester of macroeconomics, but that's about it. Well now everyone in America is getting a lesson on how the economy really works. The housing market is really starting to collapse. This is affecting money supply so the Federal Reserve is pumping more money into the economy. This is only adding to the problem of creating more debt, and it's getting to the point that a lot of debtors can't pay back their loans. Ever wonder why the bankruptcy laws were recently changed? Here's a great video that explains how money really works. Debt is all that money is these days. And more debt means more money. But an economy can't grow debt exponentially forever. So what does the future hold for us? Cory Doctorow predicts, in this wonderful piece for Forbes, what the world might look like in twenty years. Better learn how to actually make or do something.

1 comment:

Steph said...

So true. Why do we not teach our kids about economics, credit - and marketing?! Part of our debt problem is this gross consumerism - buying for the sake of buying, stuff for the sake of stuff, and all the advertising making us want more of it, regardless of what we can afford.

And re: learning how to actually make/do something - that's what KL says all the time. I wonder if that will be the outcome of today's craft/DIY movement? I hope so.

Vote with your wallet! :)