Thursday, March 7, 2013

Economics and a bench

So today I dared to venture another question about economics. I'm taking my first semester of Econ at East and it's an interesting class because there's a definite science behind how one decision can affect an entire market yet no definite answer exists to fixing problems. It's like a battle of logic and, for me, it's difficult to distinguish flaws in differing economic opinions.

So I ask Oren. Out of all the inquiries Mira and I have thrown at him, he always seems to articulate a pretty good answer. Plus he gets kind of excited and worked up about the topic of economics and that's amusing within itself so...

Question: "What do you think about raising minimum wage?"

Oren thinks that by giving minimum wage earners more money, money will be more likely to circulate through the system because people of lower income are more likely to spend the money they earn. I read an article about this opinion so it was cool to understand that reasoning. Then Oren went into trickle-down vs trickle-up economics. Pretty interesting stuff right there.

Oh and while our heads were being saturated with economic theory, Mira and I helped Oren unscrew and move a bench from the Community Center to the garage. Then we shoveled out one of the hoop houses with Liam in preparation for covering it with plastic.

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