Caveman Books

The Caveman Explores Economics & Politics

Thoughts About Economics

Part I.

Part II, THE INVENTORY ... MODEL OF MONEY

Part III, The Overall Model

Part IV How Much Cash Is Needed In An Economy?

Part V, Money Needed ... Determined By Production Increases

Part VI, How Do Profits Impact ... An Economy?

Part VII Assets

Part VIII Summary

Part IX, Money and Fractional ... Reserve Banking

Part X, Government

Caveman Articles

Money

Government and Taxes

Creating Money & Inflation

Tax Rates VS. Tax Receipts

Taxing The Rich

Government Debt

Government Stimulus



 

 

 

 

 

Why Academics are Socialists

 

Liberals make up nearly three-fourths of the faculty of colleges and universities; with the elite universities, the number is closer to 90%. Why is that? The answer lies in human nature as it often does.

 

A great number of the faculty never work in the private sector moving directly from their educational training directly into the academic environment. Young people notoriously lean to the liberal side but as they see the real world with real jobs, reality sets in. The business of earning a living, paying bills making progress in a career tends to mover people in the conservative direction. So college professors often do not experience this segment of life. The private sector is not books and formulas, it mostly about people. A college graduate who enters the private arena soon learns that life is not quite so straightforward as the college courses might lead one to believe. But there is more to it.

 

The college professor is deemed to be an expert in his or her field. Being an expert is not easy. Standing before a class of bright young people, the professor cannot afford to be wrong. So he does his homework. In the narrow field in which he teaches, he presumably knows all the history and current state of knowledge. The professor is able to defend his teachings because he must.

 

The students, peers and the professor himself think he cannot be wrong. After all, he has spent a career studying the field. He begins to think he is infallible. With this ego, he begins to think outside his narrow field of study, perhaps into politics. Since his knowledge and reasoning are so perfect in his chosen field, he begins to think that he can transfer the techniques to any body of knowledge.

 

The phenomenon becomes more accentuated when the professors teach in fields where advancement of knowledge through technology and science is critical. An engineering professor becomes adept at controlling the environment in his specific field. If he is designing an electrical circuit, he can make it do what he wants. Almost always, he is successful or if not, he simply reworks the circuit until it does what he want. With enough brain power and money, he can design any system to solve any problem.

 

But these problems are all electrical components that behave mostly the same all the time. A resistor is a resistor. Connected to a capacitor, it behaves pretty much the same, always.

 

So when professors with this knowledge and design capability venture into politics, they assume they can design and control things just like the physical items they use in the lab. But people are not resistors. And they vary greatly from one to the next. Moreover, they have a brain so that dependent on the recent stimuli, they might respond quite differently over time. Making a circuit work where the components donít always react the same would be an impossible job. Yet, these professors from their training think they should be able to do so.

 

Socialism is the belief that an economic system can be designed top-down, that a government can control all the pieces if the right policies are put in place. But people are not fixed components that all react the same every time. Not only are they all different, they often react differently at different times. Think of the shift in election politics from one cycle to the next. Predictability in politics is futile. Humans are as complex as the weather and we canít predict it for more than a few days. To think that we can predict human behavior over a yearís period is unlikely, even in the foreseeable future. As times change, people will change as well.

 

So socialism is the belief that anything can be understood and systems can be designed to optimize performance from a top down mechanism. Professors by their nature are led to believe they can do these things. As a result, they lean to the liberal side. But people are not so amenable to this approach. The best approach when it comes to society is for government and business to take their signals from the people, rather than the other way around. People through liberty and freedom will pick the optimal route for themselves and that will be optimal for society. Any other way will crush their liberty. Of course, as weíve discussed before, oneís liberty cannot impact someone elseís. But people are understanding of otherís rights as they would not wish anything different for themselves.

 

Professors should be required to operate in the private sector as part of their training so that they can see that programming and commanding people is not an ideal situation. It might work for circuits and students, but people have a mind of their own.


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