Stumping my Republican cousin with the economics degree.

[Drahthaardogs]

I posed this little nugget of fun to my republican cousin.

"Why is it when a bunch of oil producing nations get together and decide upon a fair price for a barrel of oil, it is called capitalism, but when a bunch of workers get together and decide upon a fair price for an hour of labor it is called socialism?"


Fun times here I tell ya. As a toastmaster's member, I found myself counting Ums and Ahs. It was not pretty.

[rurallib]

1. please tell us when he answers.

I have always wondered why businesses can have all sorts of associations and Chambers et alia, but workers can't join anything.

[JoePhilly]

3. Especially if corporations are people.

[JoePhilly]

2. Please ask him this ...

We know that Mitt Romney wants to cut the taxes of the super rich.

We know that the super rich (just like Romney) invest huge amounts of money in off-shore accounts, and shell corporations in places like the Cayman Islands.

Given those facts (and they are facts) ... can he explain how those investments create jobs in the United States?

Any credible person with a degree in economics should be able to explain how that works.

[freshwest]

4. My hero! Report back to us soon.

[nadinbrzezinski]

5. Next time throwh this hand grenade from Adam Smith

I already removed the pin and spoon for ya... it is ready to throw.

“Civil government, so far as it is instituted for the security of property, is in reality instituted for the defense of the rich against the poor, or of those who have some property against those who have none at all.”
― Adam Smith


Yes, this is THAT ADAM SMITH they pray to, but rarely have read.

[bbgrunt]

6. Good Job!

[Odin2005]

7. It's not hard to stump Econ majors.

They are mostly fed RW Neo-Liberal propaganda.

[SalviaBlue]

8. This is really good!

I read it yesterday and just spent 10 minutes scrolling through GD to find it again.

It's a keeper and I will be using it.

Thanks for this short but sweet (and very reasonable) analogy.

[joeglow3]

9. Did he defend it as capitalism?

If so, that would be a first. Everyone I have discussed this with (of all political leanings) consider it price fixing. He is an idiot if he thinks it is capitalism.