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Community and Collaboration Websites - 262-284-8874 > Local Business Blogs > Economics
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| Simple Economics by Barbara Fischer, Ph.D. |
6/7/2008Mr. Kaiser – I enjoyed reading Ms. Fischer’s Perspectives article on how the
economics of oil work. In my experience with the editorial page, it is
unique to have a writer actually understand what he or she is talking about.
Perhaps Ms. Fischer’s article should be mandatory reading for the crack
editorial staff at the Journal Sentinel. Their collective understanding of
Econ 101 is an embarrassment. Their “economics ignorance” is actually an
impediment to constructive dialogue about the real issues facing our city,
our state and our country.
Thank you for having Ms. Fischer work in newspaper. We could use more of
her stuff, please.
Dennis Thank You for one of the best columns by a Community Columnist that I have ever read,
You have the unique ability to take very complex economic issues and make them quite simple and understandable to lay people such as myself. Very well done.
2 of my favorite columnists are Thomas Sowell and Walter E. Williams, they also have the unigue ability to take complex issues and make them simple and understandable. You are in the same class as they are.
I will send a copy of your column to Sen. Herb Kohl, maybe it will help him understand the economic issues that control the price of oil.
Thank You
Orville Your opinion piece the other day in the Milwaukee Journal was brilliant. You are the light in the darkness. You make absolute sense.
I only wish the legislators and powers that be would share your opinion
and take action.
Dear Ms. Fischer,
I have always enjoyed your MJ articles, always agreeing with virtually everything you say, being a libertarian. I taught economics at MATC for 29 years, and I retired nine years ago. I also self-published an economics survey text for college use, selling it to 135 colleges. I sold books to Cardinal Stritch University some years ago, so if you taught there, perhaps you are acquainted with the text. The first three editions were titled: Economics: Dealing With Scarcity, and the last two, Introduction to Economics. I "retired" from that business after nearly 20 years, though I have a handful of colleges still buying my remaining out-of-date books.
I was a little confused about your article on oil the other day. In the last paragraph in the first column, you say, "Slapping a windfall profits tax will indeed cause gas consumption to fall..." Of course, you mean that the quantity demanded will fall (which laymen incorrectly call a fall in demand). However, later in the same paragraph you say that, "Lower oil demand will lead to lower oil prices..." Are you equating this "lower oil demand" to the fall in consumption due to the windfall profits tax, that is, the fall in quantity demanded? If so, that is not correct, as a fall in demand means consumers purchase less for any other reason other than a fall in price (lower incomes, etc.) It looks as though you meant to say that, as you say that, "...lower oil prices will lead to higher consumption, thereby reducing the incentive to find alternative energy sources."
Keep up the good work.
Sincerely,
Dale
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