What is “Econ 101,” and why do economists always get things wrong? In this episode we dismantle orthodox economics, exploring where it comes from, why it’s wrong, and how “It’s Econ 101!” became a cynical rallying cry in defense of the status quo. Guests Eric Beinhocker (The Origin of Wealth) and James Kwak (Economism) explain that, far from a science, Econ 101 is really just a story we tell ourselves to justify who gets what and why. And it’s time to tell a different story.

Eric Beinhocker: Professor of Public Policy at the Blavatnik School of Government, University of Oxford. Executive Director of the Institute for New Economic Thinking at the Oxford Martin School. Author of The Origin of Wealth.

Twitter: @ericbeinhocker

James Kwak: Professor of Law at the Connecticut School of Law. Co-founder of the economics blog “The Baseline Scenario”, a commentary on developments in the global economy, law, and public policy. Author of Economism: Bad Economics and the Rise of Inequality. Columnist for The Atlantic.

Twitter: @jamesykwak

Further reading: https://www.theatlantic.com/business/archive/2017/01/economism-and-the-minimum-wage/513155/


Talking Head: 00:00 In a sense, economics has become the legend of our time.

Nick Hanauer: 00:04 It’s not a law of nature, it’s an intimidation tactic, masquerading as an economic theory. It’s a way to negotiate wages at scale.

Speaker 3: 00:11 In the neo-liberal political movement, we argue that this imaginary world got confused with the real world.

Nick Hanauer: 00:18 We made rich people richer and occasionally threw a bone to the poor.

Talking Head: 00:21 At the end of the day, if all we stand for is leveling the playing field of the free market, that’s not enough.

Tina Nole: 00:32 From the offices of Civic Ventures in downtown Seattle, this is Pitchfork Economics, with Nick Hanauer. It’s like ECON 101 without all the BS.

Nick Hanauer: 00:54 I’m Nick Hanauer, founder of Civic Ventures.

David Goldstein: 00:57 I’m David Goldstein, Senior Fellow at Civic Ventures.

Stephanie Ervin: 01:02 I’m Stephanie Ervin, I run a lot of our advocacy and campaign work here at Civic Ventures.

David Goldstein: 01:06 So Nick, last week, you introduced us to Pitchfork economics. You told us that the pitchforks are coming for us.

Nick Hanauer: 01:13 Right.

David Goldstein: 01:14 This episode we will talk about why. And I’ll start by asking the question is ECON 101 a lie?

Stephanie Ervin: 01:27 Do you ever take an ECON 101 course?

Speaker 10: 01:29 No, I’ve never taken an economy class.

Speaker 11: 01:32 Yes. Micro economics and macro economics 101.

Speaker 12: 01:35 No, I haven’t.

Speaker 13: 01:36 Oh, I guess I did in college.

Speaker 14: 01:37 I have taken ECON 101, 201, 301, 401.

Speaker 15: 01:42 No.

Speaker 16: 01:42 Yeah, I did in college.

David Goldstein: 01:47 So really, there’s kind of two ways to talk about ECON 101. There’s ECON 101, the actual class you might have taken in college. And that taught you neoclassical economics, then there’s ECON 101 in the rhetorical political sense, where you make some argument for raising the minimum wage and somebody rolls their eyes at you and says, “It’ll kill jobs, come on, it’s ECON 101.”

Nick Hanauer: 02:13 Yes. Yeah. And that form of ECON 101, what the writer James Kwak calls economism is best understood really as a methodology for social control. It’s a way of enforcing status constructs. It’s a way of sort of bludgeoning people into believing that what they get is what they deserve, among other things.

Nick Hanauer: 02:36 But in this episode, we should really focus I think, more particularly on the weaknesses of the underlying academic-economic construct, which is neoclassical economics. The way in which the definitions, the assumptions about human behavior are wanting the assumptions about the dynamics of human social systems. In other words, how people interact is deficient. And the way in which we characterize prosperity and economic growth largely around statistics like GDP, why that’s also deficient, and why that’s just not working out.

Nick Hanauer: 03:16 But a fun thing to reflect on is the way in which the macro economic neoclassical construct is under attack.

Stephanie Ervin: 03:27 Can you guys just explain the difference between macro economics and micro economics?

Nick Hanauer: 03:31 Yeah. There’s a difference between micro and macro economics. Micro economics is about economic behavior on the micro scale; how people behave and what their interactions are, and among other things. The impact of taxes on incentives and so on and so forth. And macro economics is about the big picture; how the whole economy behaves as a consequence of those micro interactions.

Nick Hanauer: 03:55 We have a problem with micro economics here at Civic Ventures, because all of the underlying assumptions that neoclassical micro economists make about human behavior turn out to be just objectively false. And the point of the podcast is to explain to people how and why those assumptions are wrong, and more particularly why they should care, why it matters.

Stephanie Ervin: 04:19 So, since I skipped taking economics 101, honestly, why should I care?

Nick Hanauer: 04:24 So the existing theory in all economics is built on the assumption that people are perfectly selfish, perfectly rational and perfectly calculating. And that assumption about human behavior undergirds everything that economists do. So, why is this matter so much? Because if your economics accepts the truth about human behavior, that people are reciprocal, moral, approximating, emotional rather than selfish, rational calculators of their self interest, then when you look around the world, all the prosperity in it, what you can see quite clearly is that it was reciprocity and cooperation and morality that created all this prosperity, not selfishness.

Nick Hanauer: 05:16 And once you see that connection in a more honest way about what it is that creates prosperity in human societies, then you can optimize for more of the good thing rather than optimizing for more of the bad things. So we live, Stephanie, in a culture as you know, where people celebrate selfishness where they literally believe that the more aggressively and narrowly they pursue their own self interest, the better will be for everyone. People literally believe that. And they believe it because this false assumption of neoclassical economics taught them that it was true.

Nick Hanauer: 05:55 In the first episode, we talked a little about the ideological layer of neoliberalism. And one of the cornerstone beliefs in the neoliberalism is this idea that the only purpose of the corporation is to enrich shareholders. Why? Because that’s how humans efficiently create prosperity for everyone. Relying in turn on that assumption about human behavior.

Nick Hanauer: 06:17 But once you kill that dumb idea about human behavior, now, the idea that the only purpose of the corporations, for shareholders and the executives is just obviously nonsense. It’s bullshit. And so that’s why getting this right is so important. It’s not just an academic question. By accurately settling the academic question you inform the ideology that people will accept about how to organize their lives and the policy agendas they will enact to make the world a better place.

David Goldstein: 06:51 So Nick, you just expanded on our fundamental theme that we stated in the first episode, which is bad theory leads to bad policy which leads to bad outcomes. We need to insert something in there. It’s actually bad theory leads to bad narrative, which leads to bad policy, which leads to bad outcome.

Nick Hanauer: 07:14 Correct.

Stephanie Ervin: 07:14 And the worst lies are the ones we tell ourselves.

Nick Hanauer: 07:17 Exactly.

David Goldstein: 07:17 They are the most convincing.

Stephanie Ervin: 07:17 Because I don’t think I have choice or urgency or can change anything about how to economic world is just inserting itself on me, then I am less likely to advance our collective interest in doing something differently.

Nick Hanauer: 07:29 That’s right. And so people over the last 40 years have been relentlessly told that selfishness is righteousness, and that your only responsibility is to advance your own narrow self interest, and if you do that the public interest is served. And that is just a complete lie, that human societies are built from reciprocity and cooperation. And cooperation in turn is built by trust. It’s only possible with high levels of trust. And trust is the product of justice. That that’s why justice is so important in human societies, is that it creates trust, which enables cooperation from which all human prosperity is built. It’s not competition that does it, its cooperation.

Nick Hanauer: 08:20 The reason you care about these academic issues is that these academic assumptions will end up framing everything in your life about how we organize a society and who gets what and why.

Nick Hanauer: 08:37 Okay. So on today’s podcast, one of my very dear friends and longtime collaborators, Eric Beinhocker is going to be with us. Eric is currently the executive director of the Institute for New Economic thinking at Oxford University where he leads a team of 125 researchers at the bleeding edge of economic research and theory. Eric is regarded as the world’s leading heterodox economic thinker and runs around the world talking to people about new ways to think about economics. He lives in London with his family. And in the interest of full transparency, Eric and I are currently co writing a book on economics that will cover in greater depth a lot of the issues that we touch in this podcast, Pitchfork economics.

Nick Hanauer: 09:32 So, Eric today is going to talk to us a little bit more in detail about the weaknesses of neoclassical economics and point towards a new way of thinking about human behavior, human social systems, and how we might measure whether things are getting better or worse.

Nick Hanauer: 09:54 So, Eric, good morning.

Eric: 09:56 Good morning.

Nick Hanauer: 09:57 How is merry old England?

Eric: 10:00 Very rainy as usual.

Nick Hanauer: 10:02 So Eric, can we talk about the concept of equilibrium? And why assuming that the system is an equilibrium system, what that means and how it informs your intuitions about how it works?

Eric: 10:18 Yeah, this is, you know, it may sound like a bit academic point, but it’s actually a pretty fundamental one. So, if you look at the work of earlier classical economists, many of them actually what they were describing was a system that was in change, that was evolving, moving over time and they were often actually quite interested in the dynamics of the economy. A lot of the interesting questions are about how does it change over time and where might it go.

Eric: 10:52 But starting in the late 1800s as economist tried to make economic more mathematical. The tools that they had at the time, which were borrowed from physics, were tools that looked at systems at rest. Can we describe what happens when a pendulum stop swinging, or a rock rolls down a hill and comes to rest, or, a pencil falls down on the table?

Eric: 11:22 They had pretty good mathematics for these static systems going to a state of rester equilibrium, and they used those tools to apply to the economy. It seemed like a good fit particularly if think of something like the law of supply and demand, which describes how buyers and sellers meet in the market and then come to agree on a price and it kind of state of rest or equilibrium.

Eric: 11:46 That math was a real breakthrough and came to dominate the field. But what it missed was the fundamental issues in the economy. That the economy rarely is in a state of rest, it’s constantly in motion. There’s innovators innovating and consumers changing their tastes and preferences and firms changing their strategies and developing new products and services zone. The economy’s constantly emotion. It’s inherently a disequilibrium system.

Eric: 12:17 But it’s only very recently that we’ve had the tools in particular computer power to be able to describe the economy more realistically as a disequilibrium system. The problem with the equilibrium models is again, they cause you to miss many of the most important phenomenon in the economy like booms and busts, crashes and things like 2008. Or, on the positive side, questions of economic growth or how do we transition to a sustainable green economy or how do we deal with problems like inequality. A lot of the big issues that we’re wrestling with now are inherently disequilibrium phenomena.

Nick Hanauer: 13:00 And just I guess, to underscore your point, if you’re a baseline assumption is that the economy is an equilibrium system, a boom or a bust, a bubble sort of can’t happen. It’s not supposed to happen.

Eric: 13:14 Well, you kind of go through two stages. First is a sort of denial. It can’t happen. But then when it’s happening, then the answer is, do nothing, because this is the moment we’re trying to-

Nick Hanauer: 13:26 Because it will come back to equilibrium.

Eric: 13:27 It will come back equilibrium. And you can see how this kind of thinking and these theories then inform the political debate. There were many during the 2008 crisis that did argue the best thing we could do is do nothing. And I think the evidence is pretty strong that if we did nothing, we probably would have, instead of a great recession, we would have had a true Great Depression. Again, it’s a very abstract concept, but if you’re in a closed equilibrium system, like a bowl with a marble, if you throw the ball in the marble, eventually it will come to rest at the body, it will come to equilibrium.

Nick Hanauer: 14:05 Exactly.

Eric: 14:07 All you have to do is do nothing, in fact, you want it to come to rest, doing nothing is your best bet.

Nick Hanauer: 14:12 Doing nothing is your best bet. Exactly. And also, quite importantly, a brilliant but rather strange Italian economist named Vilfredo Pareto, who is known not just for his mathematics but also the fact that he kept something like 20 cats in his house. He came up with this idea that this equilibrium point was also the optimal point for the economy. It was the economy when resources are being used in their most efficient and best way for society as a whole. So, a further point is that by doing nothing, letting the economy come to equilibrium that you’ll come to the best outcome for society. So this leads to then views that like the economy on economic inequality, there’s nothing we can do about it, and that’s actually … The level of inequality we have is the best and most efficient outcome for society. Well, this all makes sense now, because anybody who’s had a cat knows that they reach equilibrium 17 hours a day.

Eric: 15:17 Excellent.

Nick Hanauer: 15:18 So to be clear, Eric, you are outside of the economic consensus. So when you talk to your fellow economists who still subscribe to the neoclassical equilibrium models, how do they explain things like the minimum wage that it never seems to work the way their models predict it will work?

Eric: 15:40 Well, it’s funny economics is in a real state of flux right now, which actually makes it a very exciting time to be an economist. So, many of my colleagues will actually push back to me and say, “Eric, you’re fighting against a straw man, the neoclassical model is dead, nobody takes it seriously anymore. Don’t flog a dead horse.”

Eric: 16:06 To many degrees that’s true. Again, as I mentioned, lots of economists are doing work on behavioral models and realistic institutional models and more dynamic views of the economy and so on. But there’s a big disconnect between this work and work in the more applied and policy area.

Eric: 16:28 Again, if you look at a lot of the academic work on an issue, like the minimum wage in this kind of fairly narrow neoclassical framework, if you look at a lot of macro economic modeling on things like monetary policy or fiscal policy, comes from this neoclassical view. And part of this is just economics. It takes time to change. Part of it is that it’s hard to do these things in a new and better way, and it takes more work.

Eric: 17:06 But some of it is also just habits of mind. People have been used to thinking this way for a long time, and it’s hard to change.

Nick Hanauer: 17:13 So the the policy makers are lagging the discipline.

Eric: 17:19 Well, no, actually the other … It’s kind of a bit of a sandwich. So, I’d say at the more level of basic research, there’s a lot of exciting stuff going on. And in the policy community itself, there’s a big appetite for new approaches model. So actually, the central banks are some of the leading advocates for these new approaches and are very disillusioned with the standard models. And we have conversations in treasuries and finance ministries or environmental ministries, lots of places in governments and in the policy community, where we get a lot of interest in support for these ideas. It’s more of the applied part of economics in academia that actually seems to be lagging.

Nick Hanauer: 18:13 Our next guest is James Kwak who is a law professor at the University of Connecticut. And James has written this amazing book called Economism; Bad Economics and the Rise of Inequality.

James Kwak: 18:29 Nick, pleasure to hear from you.

Nick Hanauer: 18:31 How are you?

James Kwak: 18:32 I’m well. How are you?

Nick Hanauer: 18:34 Good. How goes the battle?

James Kwak: 18:38 Poorly.

Nick Hanauer: 18:40 Haha, that’s honestly accurate.

Stephanie Ervin: 18:46 Hi, Professor Kwak. Thanks for joining us. This is Stephanie.

James Kwak: 18:49 Yeah. My pleasure.

Nick Hanauer: 18:50 Why don’t we start by just telling us what economism is? Because we should start with our listeners with that. So, just apply your book in the concept.

James Kwak: 18:57 Yeah. So economism is the misuse of very simplistic models from first economics to try to make claims about the world, claims that are politically convenient to some people. So for those of you who have taken economics or haven’t taken it, the first thing you learn is you learn about supply and demand competitive markets. And you learn that the forces of supply and demand essentially create a perfect world because everyone gets paid exactly what they deserve, and all products cost exactly what they should make. And all the sources get allocated to their best uses.

James Kwak: 19:30 And I say this is first year economics because when people study more economics and go to graduate school, and so on, they learn that this model really applies to a very small segment of the economy. But what’s happened is that beginning especially in the 1950s, 1960s, conservative ideologues, started using arguments based on this very simple supply and demand model to say things like very famously, the minimum wage hurts poor people because the minimum wage is essentially a price floor in the markets of labor, and it creates a shortage and that shortage is unemployment.

James Kwak: 20:05 And I think this kind of argument has been very powerful for a couple of reasons. One is that it invokes the power of economics, which many people are just intimidated by. And then secondly, it allows this particular kind of rhetorical argument that you heard first among conservatives, which is that I really like poor people and I really want to help poor people, and that’s why I’m against the minimum wage and that’s why I’m against welfare. You hear that one too. Welfare hurts poor people because it undermines the incentive to work.

Nick Hanauer: 20:37 Yeah, that we would pay you more except that would be bad for you.

James Kwak: 20:42 For you. Exactly. And that is a godsend for the elites because they’ve been accused for centuries, since Dickensian England. They’ve been accused of not caring about poor people. What Milton Friedman, the economist gave them was this tool to say, “No, we are actually champions of the poor.

Stephanie Ervin: 21:02 What was your goal in writing economism? What were you hoping to achieve?

James Kwak: 21:05 I guess two audiences. Neither one was kind of conservative Republicans. One was; I wanted to equip progressives to be able to understand what people were saying when they said, “It’s just economics 101. Because I think a lot of people find that intimidating and I think a lot of progressives would not know how to argue with someone who says, who gets a cocktail napkin and draws a picture and shows that the minimum wage creates unemployment.

James Kwak: 21:32 So I wanted to give them a little bit of economics and to show that this is not the whole story. In a few cases to teach them the other side of the story, but more generally, just to make people more suspicious of that whole line of reasoning, ‘It’s just economics.’

James Kwak: 21:48 And then I guess my second audience was, I guess moderate democrats because I think many people have been won over to the idea that as Bill Clinton said, Government’s not the solution. Al Gore said customer should be smaller. A lot of Democrats have been won over to the idea that really we want the free market to generate prosperity and all we need to do is kind of tweak it on the margins. I think that’s just wrong.

James Kwak: 22:14 So, I was hoping to convince a few people of that.

Stephanie Ervin: 22:16 So, Professor Kwak, are you arguing that folks are applying the lessons of econ 101 incorrectly, or that the lessons in econ 101 are themselves wrong or both?

James Kwak: 22:28 I think they’re being applied incorrectly. But it’s probably the way people learn economics 101. Because in a first year class with a good teacher, with most economics teachers, they have no reason to think of that, they will explain the model, then they will say this is an analytical model, we use it as a starting point. And then we look at ways in which the world is different in the model and how that changes the outcome.

James Kwak: 22:49 But I think that first of all, it’s much easier to remember the model than the caveats and secondly, a lot of public policy debate is essentially kind of like it’s a debating club in which people try to score points by clarity and simplicity. And this provides a handbook of clear and simple arguments against many kinds of government intervention. Because, again, the starting point is essentially that private markets generally produce optimal outcomes.

James Kwak: 23:21 So I think it’s largely, it’s a case of miss application. Often it’s a common trope among commentators. They will say, ‘Sorry, the world is this way, but it’s just economics 101, there’s nothing I can do about it.” It’s a way of disclaiming all urgency, pretending politics doesn’t exist and saying, this is just a force of nature. It’s like gravity.

James Kwak: 23:42 But again, if you talked to an economist who … A professor, maybe one with Nobel Prize in that very subject, most of the time, they will tell you things are more complicated.

Nick Hanauer: 23:52 Yeah. So, can you deconstruct the claims of economism a little bit more. How do they resolve in public discourse.

James Kwak: 24:01 Yeah so um. I mean I think the minimum wage is perhaps the simplest example to talk about. As I said the diagram you can draw on a cocktail napkin says that if you had a minimum wage it will cause an employment. And then I would say that at the high level this is, if you look at op ed written against increasing the minimum wage that is usually the core of the argument. That, as Milton Friedman said, “It harms the very people it was meant to help.”

James Kwak: 24:28 But then I think there’s a level below this as well because what’s happened I think as amply documented, is over the past 50 years, the conservatives have funded and developed a network of think tanks that dwarfs anything [comfortable 00:24:42], on the left. In fact because most democratic funded institutions end up being centrist for reasons that I don’t fully understand.

James Kwak: 24:50 And so, this basic claim becomes then the starting point for these think tanks to put out industry funded studies that then purport to backup the claims of economism. Because I’d say that, on questions like this and public policy questions, the attacks kind of takes two forms. One is the sound bites that politicians use and the people use in articles saying, “Look, it’s just economics 101.”

James Kwak: 25:25 And then on the second level there is an industry of organizations who will turn out white papers and empirical studies to kind of just muddy the waters. It’s the industry of … Well, if we have a study and they have a study, then Fox News will say, “Well, we can’t decide which one it is.”

Nick Hanauer: 25:42 Yeah. So, what’s fascinating to me is that the Chamber of Commerce and their allies churn out a lot of papers on why raising wages will be terrible for workers. But what they never do is churn out papers and send them to the press showing why raising wages will be bad for executive bonuses and bad for shareholders. Why is it that they only seem to release papers about why it will be bad for workers and never release papers or why it will be bad for owners and shareholders? And this is of course because they’re trying to advance a moral argument that they think will win the day, and we’re rich, you’re poor and we want to keep it that way, doesn’t sell.

Nick Hanauer: 26:27 And the other thing that I think it’s worth mentioning is that the marvelous historian [Baudelaire 00:26:34] has said in his books, and I really do think this is true, is that the iron law of history, and the one that undergirds all of the narratives that hold human societies together comes in one of two forms, either God says, or it’s a law of nature. That is why economism is so powerful and that is why it takes that form is. Because what folks are saying is that raising wages kills jobs is just like force equals mass times acceleration, that these are laws of nature, they’re in violet. And that if you contradict them, well, you just don’t understand physics or you just don’t understand economics, that they are asserted, as if there are laws of nature.

Nick Hanauer: 27:26 The thing about force times mass equals acceleration is that is true in every circumstance where it has ever been tested. It is always true. It’s never not true. That’s why it’s a physical law. But raising wages kills jobs is never true. It’s not a law of nature. It’s an intimidation tactic masquerading as an economic theory. It’s a way to negotiate wages at scale.

James Kwak: 27:52 Yeah, that sentiment is very familiar to me. The epigraph to the book is a quote from [Baudelaire 00:27:57]. It’s the one that’s been cited many times. So he said, “The devil’s greatest trick was convincing people that he didn’t exist.” I started off the book talking about [inaudible 00:28:06] Bible teller which is most you know, well known characters, the philosopher Pen glos is a caricature of [light 00:28:12], he says, “This is the best of all possible worlds.”

James Kwak: 28:15 And I think that part of the … I don’t know if I quite make the analogy in the book. But in a sense economics has become the religion of our time. At least a religion of the kind of policy and political elite. And I think that this is one reason when you talk about this convincing people that it’s a law of nature, obviously we’ve talked a little bit about how this is very convenient for Republicans but I think this is also, this idea that it’s a natural law is part of what has helped move the Democratic party so far to the center, to the central white on many economic issues.

Nick Hanauer: 28:48 Yeah.

Stephanie Ervin: 28:49 But some of the policies that Democrats support actually do are better for the economy, right? Are better for growth.

Nick Hanauer: 28:56 Unambiguously.

Stephanie Ervin: 28:56 So, why don’t we make that argument? Why are we instead making argument about fairness and helping poor people, or to your point, Professor Kwak, leveling the playing field?

James Kwak: 29:06 So, let’s just take Obamacare. I think Obamacare is the best example. Obamacare is a very kind of over-engineered … Well, it’s the long way to try to use market forces to approximate the outcome you would get with single payer, when single payer is obviously the short way to get there. And Obamacare was designed that way.

James Kwak: 29:25 The whole question of whether we had the votes, let’s leave that aside for a second, it was designed that way so that people would not accuse Democrats of being socialists. Well, guess what they call us socialist anyway. And it is a less good outcome, because I think it’s unsustainable because it doesn’t do enough to do produce, health care is just getting too expensive. And it does doesn’t do enough to solve that problem at the end of the day.

James Kwak: 29:49 But I think that we propose policies that are certainly better than the Republicans alternatives, but they are perceived as technocratic. And they do not give people what they really want. What people really want is security and a few basic areas such as health care. And what we’ve had Obamacare, again, I will say it’s better than Republican alternative. What we’ve done is we shifted healthcare costs from up from premiums to back end cost sharing. Because, basically in order to create a policy that people can afford, it often has to be a high deductible plan.

James Kwak: 30:25 So we have this kind of technocratic half measures and we say that we’re harnessing market forces. And that’s part of why I think people think Democrats don’t stand for anything. Because Republican pitch is one sentence long. ‘We’re gonna get government out of the way and we’re going to let innovation and entrepreneurship in the American way, we’ll make everyone rich.’ It’s completely false but then it’s one sentence.

Nick Hanauer: 30:50 It is persuasive.

James Kwak: 30:51 And we don’t have a sentence. A lot of the Democrats position on policy debates ends up being … Well, my complicated policies is better for more people than your simple policy. And they’re liked. But it’s politics. It doesn’t give you any vote. It doesn’t stand for anything, it doesn’t get you any votes.

James Kwak: 31:14 In the long term our policies tend to be better for economic growth but the problem that increasing number of people in this country is safe is not a lack of both, it’s not a lack of jobs, it’s just inequality.

Nick Hanauer: 31:25 We have plenty of jobs. The problem is the jobs don’t pay enough. That’s the principal problem with the economy. and people aren’t paid enough because they don’t have good jobs. They are not paid enough because their employers don’t pay them enough. And that has nothing to do with the job, has to do with power.

Nick Hanauer: 31:45 And that I think is the underlying lie of economism, which is, the most pernicious part about it, is that what economism and tells you is if you are paid 725 an hour, you only deserved 725 an hour. And if the government intervenes and requires your employer to pay you more than 725 an hour, then a law of nature has been violated. Cats and Dogs are going to start to live together. Earth is going to crack open, we’re all going to slide into hell and the economy will collapse. And that is simply a lie. That people are not paid what they’re worth, they’re paid what they negotiate, and how much power you have to negotiate, frankly, is orthogonal to what you may.

Nick Hanauer: 32:35 In some cases, you have a lot of negotiating power, most cases people don’t, and that’s the role of government. In any democratic society is to try to balance the power of elites versus not non-elites.

James Kwak: 32:50 Yeah, that’s a good way to put it. I mean in economics, there’s obviously a whole field devoted to market power. But again, going back to what is economism and the way it goes on a very small part of first economics, the supply and demand competitive market model does not have any market power in it. So, when you say the minimum wage is necessarily paying people more over necessarily cause unemployment, you’re drawing on a picture of the world in which power just doesn’t exist, and you’re able to pretend it doesn’t exist.

Nick Hanauer: 33:18 Yeah. And in a world where mostly that’s the only thing that’s important.

James Kwak: 33:24 Yeah.

Stephanie Ervin: 33:25 So, professor, I know you’ve offered to have your book economism included in the syllabus as a real econ 101 courses.

Nick Hanauer: 33:32 Good luck with that.

Stephanie Ervin: 33:33 Can you elaborate your take on that?

James Kwak: 33:33 To be honest, I’m not actually sure I get requests to review copies, I send them out, I haven’t followed up to find out. I’m probably a little scared to ask.

Stephanie Ervin: 33:42 I think we share a lot of the same goals in our efforts to put out this podcast. So thanks for being a part of it this morning. We really appreciate it.

Nick Hanauer: 33:51 Thank you so much for joining us.

James Kwak: 33:52 Thanks for having me. I really appreciate it.

Nick Hanauer: 33:54 Wonderful to talk to you. Talk to you soon.

James Kwak: 33:58 Okay, bye.

Nick Hanauer: 33:59 Bye.

Stephanie Ervin: 33:59 Bye.

Speaker 19: 34:03 There was a lot of … and I can’t remember any of it, because it’s been well over 10 years, but there were a lot of supply side stuff, a lot of supply and demand talk, different ways to figure out what was going to be, you know like what indicators or whatever. Like insert this into our supply and demand algorithm, I guess. And then, you can hopefully see what is going to come out on the other end.

Stephanie Ervin: 34:37 Do you think neoclassical economics was a lie from the beginning or was it some guys really just trying to simplify how they understood the economic world? Explain it.

Nick Hanauer: 34:47 Yes. So it’s unfair to call neoclassical economics a lie. It’s fair to call trickle down economics a lie because that’s a very deliberate effort to manipulate power and economic arrangements. The people who built neoclassical economics did so for the best, mostly, I mean, I don’t know all of them, but certainly most of them for the best reasons. They were just trying to understand the world using the best tools that they had available.

Nick Hanauer: 35:20 And many of them at the time that they offered these theoretical constructs were explicit about saying, “Look, this is just a model. This is just a way of modeling some things, don’t take it too seriously.” I mean, for instance, GDP, which is our current measure of growth and economic prosperity was developed by this guy named Kuznets who was absolutely explicit that this should never be used as a way of measuring welfare for all the really obvious reasons in which it is deficient. And yet we grabbed onto it.

Nick Hanauer: 36:00 And we grabbed onto it for a couple of reasons. First, it was simple. And second, because if you measure things in a particular way that benefits a particular group of people, if you measure output and define output as good, the people in charge of the output are highly rewarded. And if-

Stephanie Ervin: 36:22 But at the time, I’m sure it was really easy to believe these things, because those people in the econ 101 classes or whatever, 60 years ago, 80 years ago were elites.

Nick Hanauer: 36:32 Yes, that’s right. Another theme of the podcast here is that economics is presented as if it’s this sort of set of revealed laws of nature. And indeed there’s some very fine academic work that is done on how economies work by legit objective fine people. But the way that most people experience economists is as a construct, or a rationalization of who gets what and why. Economics is how modern societies instantiate our social and moral preferences about status, privileges and power. And whether economists want to acknowledge that or not, or whether they want to admit it or not, their work is often harnessed to or in service of enforcing the status contracts that benefit some people and don’t benefit others. And there’s a very fine line between objective economic research and a very deliberate effort almost certainly of elites to enrich themselves at the expense of others using that research or those arguments or that data.

Speaker 20: 38:03 Do you remember wishing [inaudible 00:38:04]?

Nick Hanauer: 38:06 No, not a thing. It’s been a long time.

Speaker 21: 38:08 I don’t remember anything.

Speaker 22: 38:08 I don’t remember.

Speaker 23: 38:11 Whether or not it was true I guess I don’t know because I didn’t pay close enough attention.

Stephanie Ervin: 38:20 So, on the next episode we’re going to talk about the trick in trickle down and here’s a preview, it’s a scam too.

Nick Hanauer: 38:28 What people have to recognize is that these stories that are told often are not told because they’re true, they’re told because they’re the most effective way ever devised for elites to continue to gain advantage and keep other folks down.

Stephanie Ervin: 38:53 Pitchfork Economics is produced by Civic Ventures. The magic happens in Seattle in partnership with LARG Media, that’s L-A-R-G media and the Young Turks Network. Find us on Twitter and Facebook @CivicAction and follow our writing on medium @civicskunkworks. And you should also follow Nick Hanauer on Twitter, @NickHanauer.

Stephanie Ervin: 39:11 As always, a big thank you to our guests and thank you to our team at Civic Ventures, Nick Hanauer, Zach Silk, Jasmine Weaver, Jessyn Farrell, Stephanie Ervin, David Goldstein, Paul Constant, Nick Casella and Annie Fadely. Thanks for listening.

Comments (238)
  1. You really make it appear really easy along with your presentation but I in finding this matter to be actually something which I believe I might by no means understand. It seems too complex and very extensive for me. I am having a look ahead in your next submit, I¦ll attempt to get the cling of it!

  2. I just want to mention I’m all new to blogging and site-building and actually loved you’re blog site. Likely I’m want to bookmark your blog post . You absolutely come with superb posts. Bless you for sharing with us your web site.

  3. One other thing to point out is that an online business administration course is designed for college students to be able to smoothly proceed to bachelor’s degree education. The 90 credit diploma meets the lower bachelor college degree requirements so when you earn your own associate of arts in BA online, you will have access to the latest technologies in this field. Several reasons why students are able to get their associate degree in business is because they may be interested in this area and want to find the general knowledge necessary previous to jumping right bachelor diploma program. Many thanks for the tips you provide in your blog.

  4. Very interesting info !Perfect just what I was looking for! “Water is the most neglected nutrient in your diet but one of the most vital.” by Kelly Barton.

  5. Hi there! This post couldn’t be written any better! Reading through this post reminds me of my good old room mate! He always kept talking about this. I will forward this article to him. Fairly certain he will have a good read. Thanks for sharing!

  6. Hey There. I found your blog using msn. This is a very well written article. I will make sure to bookmark it and come back to read more of your useful information. Thanks for the post. I’ll certainly comeback.

  7. Somebody necessarily help to make significantly articles I would state. That is the very first time I frequented your website page and so far? I surprised with the research you made to create this actual submit amazing. Magnificent job!

  8. naturally like your website however you need to take a look at the spelling on quite a few of your posts. A number of them are rife with spelling problems and I in finding it very troublesome to tell the truth however I’ll surely come again again.

  9. Attractive section of content. I just stumbled upon your weblog and in accession capital to assert that I acquire in fact enjoyed account your blog posts. Anyway I will be subscribing to your augment and even I achievement you access consistently fast.

  10. Hi my family member! I want to say that this post is amazing, great written and come with approximately all significant infos. I would like to look more posts like this .

  11. Hochwertige Waren vom Produzent. Fabrikverkauf.
    Versand am gleichen Tag aus Frankfurt. Bis 90 % günstiger als auf dem Markt.

    Reifentüten mit und ohne Logo.
    Stretch Folie. Alle Größen / Sorten.
    Malerkrepp. Malerfolie. Werkzeug.

    Alles für Umreifung. Umreifungsband, Verpackungsband, Klemmen, Hülsen, Spanner…….

    Gewebesäcke. Kartoffelsäcke. Laubsäcke.
    Raschelsäcke. Zwiebelsäcke.
    Baufolie. Estrichfolie. Gartenfolie. Teichfolie. Abdeckfolie. Schutzfolie.
    Panzerband. Doppelklebeband. Teppichband.
    Müllsäcke und Vieles mehr.

    Info auf: folmax.pw

    Mit freundlichen Grüßen

  12. I have been browsing online more than three hours today, yet I never found any interesting article like yours. It’s pretty worth enough for me. Personally, if all webmasters and bloggers made good content as you did, the net will be much more useful than ever before.

  13. My brother suggested I might like this website. He was totally right. This post truly made my day. You can not imagine just how much time I had spent for this info! Thanks!

  14. magnificent post, very informative. I wonder why the other experts of this sector don’t notice this. You must continue your writing. I am sure, you have a great readers’ base already!

  15. I do consider all the concepts you have introduced in your post. They are really convincing and can definitely work. Still, the posts are too brief for starters. May just you please extend them a bit from next time? Thank you for the post.

  16. Good website! I truly love how it is easy on my eyes and the data are well written. I am wondering how I might be notified when a new post has been made. I’ve subscribed to your RSS which must do the trick! Have a great day!

  17. I have observed that in the world nowadays, video games would be the latest craze with children of all ages. Occasionally it may be extremely hard to drag your kids away from the activities. If you want the best of both worlds, there are lots of educational video games for kids. Great post.

  18. I wanted to send you a tiny observation to be able to give thanks again over the remarkable views you have shared here. This is certainly pretty generous of people like you to allow without restraint exactly what a few individuals could possibly have offered for sale for an e-book to earn some money for their own end, mostly considering that you could possibly have done it if you wanted. Those inspiring ideas in addition served as a great way to fully grasp other individuals have the same zeal the same as mine to figure out whole lot more regarding this matter. Certainly there are numerous more pleasant times in the future for individuals who read carefully your blog post.

  19. A lot of the things you articulate happens to be astonishingly precise and that makes me wonder why I hadn’t looked at this in this light before. This piece truly did turn the light on for me personally as far as this issue goes. Nevertheless at this time there is actually just one issue I am not too cozy with so whilst I attempt to reconcile that with the actual main idea of your issue, permit me see what all the rest of the subscribers have to say.Very well done.

  20. I’m really enjoying the design and layout of your site. It’s a very easy on the eyes which makes it much more enjoyable for me to come here and visit more often. Did you hire out a developer to create your theme? Fantastic work!

  21. I’ll immediately grab your rss feed as I can’t find your e-mail subscription link or newsletter service. Do you’ve any? Kindly let me know in order that I could subscribe. Thanks.

  22. I am only writing to let you be aware of what a brilliant discovery our daughter obtained checking your site. She came to find some things, with the inclusion of what it’s like to have an excellent helping mindset to make certain people completely know precisely some complicated matters. You undoubtedly surpassed visitors’ expectations. Thank you for churning out those priceless, dependable, explanatory not to mention unique thoughts on that topic to Evelyn.

  23. Thanks for your fascinating article. Other thing is that mesothelioma cancer is generally a result of the inhalation of fibres from mesothelioma, which is a cancer causing material. It’s commonly viewed among personnel in the construction industry who’ve long contact with asbestos. It can be caused by residing in asbestos protected buildings for years of time, Genes plays a crucial role, and some persons are more vulnerable to the risk when compared with others.

  24. I additionally believe that mesothelioma is a extraordinary form of cancers that is often found in people previously subjected to asbestos. Cancerous cellular material form while in the mesothelium, which is a defensive lining which covers the vast majority of body’s bodily organs. These cells commonly form within the lining of the lungs, mid-section, or the sac which encircles the heart. Thanks for sharing your ideas.

  25. I’ve been surfing on-line greater than 3 hours these days, but I by no means discovered any fascinating article like yours. It is beautiful price enough for me. In my opinion, if all site owners and bloggers made excellent content material as you did, the web might be much more helpful than ever before.

  26. Hi there this is somewhat of off topic but I was wondering if blogs use WYSIWYG editors or if you have to manually code with HTML. I’m starting a blog soon but have no coding expertise so I wanted to get advice from someone with experience. Any help would be enormously appreciated!

  27. Good – I should certainly pronounce, impressed with your site. I had no trouble navigating through all the tabs and related information ended up being truly easy to do to access. I recently found what I hoped for before you know it in the least. Quite unusual. Is likely to appreciate it for those who add forums or something, web site theme . a tones way for your client to communicate. Excellent task..

  28. you are really a good webmaster. The website loading speed is amazing. It seems that you’re doing any unique trick. Also, The contents are masterpiece. you have done a excellent job on this topic!

  29. I do agree with all the ideas you have offered for your post. They’re very convincing and will definitely work. Nonetheless, the posts are very short for newbies. May you please extend them a little from subsequent time? Thanks for the post.

  30. Excellent read, I just passed this onto a colleague who was doing some research on that. And he just bought me lunch because I found it for him smile So let me rephrase that: Thanks for lunch! “Love is made in heaven and consummated on earth.” by John Lyly.

  31. Hey there! Quick question that’s totally off topic. Do you know how to make your site mobile friendly? My blog looks weird when viewing from my iphone4. I’m trying to find a theme or plugin that might be able to fix this issue. If you have any recommendations, please share. Appreciate it!

  32. Hi there would you mind sharing which blog platform
    you’re working with? I’m looking to start my own blog soon but I’m having a
    difficult time choosing between BlogEngine/Wordpress/B2evolution and Drupal.
    The reason I ask is because your layout seems different then most blogs and I’m looking for something completely unique.

    P.S Sorry for being off-topic but I had to ask!

  33. Thanks for your submission. I also feel that laptop computers are getting to be more and more popular right now, and now are sometimes the only kind of computer utilized in a household. The reason being at the same time that they’re becoming more and more cost-effective, their computing power keeps growing to the point where they are as highly effective as desktop through just a few in years past.

  34. fantastic put up, very informative. I ponder why the other experts of this sector don’t realize this. You should proceed your writing. I am sure, you’ve a great readers’ base already!

  35. Nice blog right here! Additionally your website so much up fast! What host are you the use of? Can I get your affiliate hyperlink for your host? I desire my website loaded up as fast as yours lol

  36. Hi there! This post couldn’t be written any better! Reading this post reminds me of my old room mate! He always kept talking about this. I will forward this page to him. Pretty sure he will have a good read. Many thanks for sharing!

  37. Today, while I was at work, my sister stole my iphone and tested to see if it can survive a thirty foot drop, just so she can be a youtube sensation. My iPad is now destroyed and she has 83 views. I know this is totally off topic but I had to share it with someone!

  38. I would like to thank you for the efforts you have put in writing this site. I am hoping the same high-grade blog post from you in the upcoming as well. Actually your creative writing abilities has encouraged me to get my own web site now. Actually the blogging is spreading its wings quickly. Your write up is a good example of it.

  39. I and also my buddies have already been examining the great tactics found on your web site and immediately got a terrible suspicion I never thanked the web site owner for those secrets. All of the guys came glad to read them and have truly been tapping into them. We appreciate you being very considerate as well as for going for this form of high-quality subjects millions of individuals are really needing to be aware of. My very own honest regret for not expressing appreciation to you earlier.

  40. I have recently started a web site, the information you provide on this site has helped me greatly. Thank you for all of your time & work. “If you see a snake, just kill it. Don’t appoint a committee on snakes.” by H. Ross Perot.

  41. Hiya, I’m really glad I’ve found this info. Today bloggers publish only about gossips and net and this is really frustrating. A good blog with interesting content, this is what I need. Thank you for keeping this site, I’ll be visiting it. Do you do newsletters? Can not find it.

  42. Very interesting details you have remarked, appreciate it for putting up. “There is nothing in a caterpillar that tells you it’s going to be a butterfly.” by Richard Buckminster Fuller.

  43. Hi! I could have sworn I’ve been to this site before but after reading through some of the post I realized it’s new to me. Anyhow, I’m definitely delighted I found it and I’ll be book-marking and checking back frequently!

  44. Thanks for sharing superb informations. Your web-site is so cool. I am impressed by the details that you have on this website. It reveals how nicely you perceive this subject. Bookmarked this web page, will come back for extra articles. You, my friend, ROCK! I found just the information I already searched everywhere and simply could not come across. What an ideal website.

  45. What i do not understood is actually how you are not actually much more well-liked than you might be right now. You’re so intelligent. You realize thus significantly relating to this subject, produced me personally consider it from numerous varied angles. Its like men and women aren’t fascinated unless it is one thing to do with Lady gaga! Your own stuffs great. Always maintain it up!

  46. Thanks, I’ve recently been searching for information approximately this topic for a while and yours is the greatest I’ve found out so far. But, what concerning the conclusion? Are you positive in regards to the source?

  47. I’m very happy to read this. This is the type of manual that needs to be given and not the accidental misinformation that is at the other blogs. Appreciate your sharing this greatest doc.

  48. Admiring the commitment you put into your website and in depth information you provide. It’s nice to come across a blog every once in a while that isn’t the same unwanted rehashed information. Excellent read! I’ve saved your site and I’m adding your RSS feeds to my Google account.

  49. Needless to say bwin certainly are a well recognised company name however it is important to study the evaluation closely. Betfair contains a attractive as well as simple to grasp website that’s popular with both recent as well as existing gamblers. Roulette Sniper is quite completely different from other existing strategies like the progressive or perhaps the martingale.

  50. I have realized that online education is getting preferred because attaining your college degree online has turned into a popular solution for many people. Quite a few people have not necessarily had a possibility to attend a conventional college or university however seek the improved earning potential and career advancement that a Bachelor’s Degree gives. Still other people might have a college degree in one field but wish to pursue a thing they now develop an interest in.

  51. Wonderful goods from you, man. I have consider your stuff prior to and you’re simply extremely magnificent. I really like what you have obtained here, really like what you’re saying and the way in which in which you say it. You are making it enjoyable and you continue to care for to stay it wise. I can’t wait to read far more from you. That is actually a great website.

  52. I like what you guys are up too. Such intelligent work and reporting! Carry on the excellent works guys I’ve incorporated you guys to my blogroll. I think it will improve the value of my web site 🙂

  53. I have observed that in the world nowadays, video games are classified as the latest fad with children of all ages. Occasionally it may be out of the question to drag your children away from the games. If you want the very best of both worlds, there are various educational activities for kids. Great post.

  54. It is appropriate time to make some plans for the future and it’s time to be happy. I have read this post and if I could I wish to suggest you some interesting things or advice. Perhaps you can write next articles referring to this article. I want to read more things about it!

  55. Have you ever considered creating an ebook or guest authoring on other blogs? I have a blog based on the same information you discuss and would love to have you share some stories/information. I know my visitors would appreciate your work. If you’re even remotely interested, feel free to send me an e mail.

  56. You could certainly see your skills in the paintings you write. The world hopes for even more passionate writers like you who are not afraid to mention how they believe. All the time go after your heart. “If you feel yourself falling, let go and glide.” by Steffen Francisco.

  57. I absolutely love your blog and find the majority of your post’s to be exactly what I’m looking for. can you offer guest writers to write content to suit your needs? I wouldn’t mind publishing a post or elaborating on a number of the subjects you write about here. Again, awesome blog!

  58. What i don’t realize is actually how you are no longer really much more smartly-liked than you may be right now. You are so intelligent. You recognize therefore considerably in terms of this subject, made me personally believe it from numerous numerous angles. Its like men and women aren’t involved except it is one thing to accomplish with Woman gaga! Your own stuffs outstanding. At all times care for it up!

  59. Today, I went to the beach front with my kids. I found a sea shell and gave it to my 4 year old daughter and said “You can hear the ocean if you put this to your ear.” She put the shell to her ear and screamed. There was a hermit crab inside and it pinched her ear. She never wants to go back! LoL I know this is completely off topic but I had to tell someone!

  60. One other issue issue is that video games are normally serious anyway with the main focus on learning rather than enjoyment. Although, it has an entertainment feature to keep children engaged, each game is normally designed to work on a specific group of skills or area, such as mathmatical or scientific discipline. Thanks for your posting.

  61. Yet another issue is that video gaming became one of the all-time most significant forms of entertainment for people of every age group. Kids enjoy video games, plus adults do, too. The actual XBox 360 is one of the favorite games systems for folks who love to have hundreds of video games available to them, and also who like to relax and play live with other individuals all over the world. Thank you for sharing your opinions.

  62. I’m not sure why but this web site is loading incredibly slow for me. Is anyone else having this problem or is it a issue on my end? I’ll check back later on and see if the problem still exists.

  63. The subsequent time I read a blog, I hope that it doesnt disappoint me as a lot as this one. I imply, I know it was my option to learn, but I really thought youd have one thing interesting to say. All I hear is a bunch of whining about one thing that you might fix in case you werent too busy looking for attention.

  64. I just couldn’t go away your site before suggesting that I really enjoyed the usual info an individual supply in your guests? Is gonna be again steadily to check up on new posts

  65. Yet another issue is that video games usually are serious in nature with the main focus on mastering rather than leisure. Although, it has an entertainment facet to keep your sons or daughters engaged, each game will likely be designed to work on a specific experience or course, such as math concepts or scientific discipline. Thanks for your article.

  66. Can I just say what a comfort to discover somebody who really knows what they are discussing on the internet. You certainly realize how to bring a problem to light and make it important. More and more people have to look at this and understand this side of your story. I was surprised you aren’t more popular because you definitely possess the gift.

  67. We are a group of volunteers and opening a new scheme in our community. Your website provided us with valuable information to work on. You have done an impressive job and our entire community will be thankful to you.

  68. Have you ever considered about adding a little bit more than just your articles? I mean, what you say is valuable and all. But just imagine if you added some great pictures or videos to give your posts more, “pop”! Your content is excellent but with images and video clips, this website could undeniably be one of the most beneficial in its field.Fantastic blog!

  69. I am extremely impressed with your writing abilities and also with the layout for your blog. Is that this a paid subject or did you customize it your self? Anyway keep up the excellent quality writing, it is uncommon to see a nice blog like this one these days..

  70. Hello, Neat post. There’s a problem together with your site in web explorer, could test this… IE nonetheless is the market leader and a big component to other folks will omit your wonderful writing because of this problem.

  71. I will immediately take hold of your rss as I can’t in finding your e-mail subscription link or e-newsletter service. Do you have any? Please let me recognize so that I may subscribe. Thanks.

  72. I have been exploring for a bit for any high-quality articles or blog posts on this sort of area . Exploring in Yahoo I at last stumbled upon this web site. Reading this information So i am happy to convey that I have an incredibly good uncanny feeling I discovered exactly what I needed. I most certainly will make certain to don’t forget this site and give it a look on a constant basis.

  73. Tһis is really interesting, Ⲩоu’re a very skilled bloɡger. I’ve combined your feed and antiсipate searching more of your great post. Additi᧐naⅼly, I have shɑred with your site in my soсial websites!

  74. Excellent blog! Do you have any suggestions for aspiring writers? I’m hoping to start my own blog soon but I’m a little lost on everything. Would you advise starting with a free platform like WordPress or go for a paid option? There are so many choices out there that I’m completely overwhelmed .. Any ideas? Cheers!

  75. Thanks for your article on the travel industry. I would also like contribute that if you are one senior considering traveling, it is absolutely crucial to buy travel cover for senior citizens. When traveling, retirees are at biggest risk being in need of a medical emergency. Obtaining right insurance coverage package in your age group can protect your health and provide peace of mind.

  76. Great post. I used to be checking continuously this blog and I am
    impressed! Very helpful information specially the remaining phase :
    ) I care for such info much. I was seeking this certain info for a very long time.
    Thanks and best of luck.

  77. I will immediately snatch your rss as I can’t to find your email subscription link or e-newsletter service. Do you’ve any? Kindly let me understand in order that I may just subscribe. Thanks.

  78. Hi there! Do you know if they make any plugins to assist with Search Engine Optimization? I’m trying to get my blog to rank for some targeted keywords but I’m not seeing very good results. If you know of any please share. Kudos!

  79. I will immediately snatch your rss as I can’t to find your email subscription link or e-newsletter service. Do you’ve any? Kindly let me understand in order that I may just subscribe. Thanks.

  80. Today, I went to the beach front with my kids. I found a sea shell and gave it to my 4 year old daughter and said “You can hear the ocean if you put this to your ear.” She put the shell to her ear and screamed. There was a hermit crab inside and it pinched her ear. She never wants to go back! LoL I know this is completely off topic but I had to tell someone!

  81. My developer is trying to persuade me to move to .net from PHP. I have always disliked the idea because of the expenses. But he’s tryiong none the less. I’ve been using Movable-type on various websites for about a year and am anxious about switching to another platform. I have heard great things about blogengine.net. Is there a way I can transfer all my wordpress posts into it? Any kind of help would be greatly appreciated!

  82. Good article. It is extremely unfortunate that over the last ten years, the travel industry has had to tackle terrorism, SARS, tsunamis, influenza, swine flu, and also the first ever true global downturn. Through it all the industry has proven to be robust, resilient along with dynamic, finding new strategies to deal with trouble. There are often fresh issues and the possiblility to which the sector must yet again adapt and answer.

  83. What i don’t understood is if truth be told how you are not really a lot more smartly-preferred than you might be right now. You’re so intelligent. You know therefore significantly when it comes to this matter, produced me personally believe it from a lot of numerous angles. Its like men and women aren’t fascinated until it is something to do with Woman gaga! Your individual stuffs nice. At all times care for it up!

  84. Youre so cool! I dont suppose Ive read anything like this before. So nice to find any person with some authentic thoughts on this subject. realy thanks for beginning this up. this website is one thing that is wanted on the web, someone with a bit originality. helpful job for bringing one thing new to the internet!

  85. Thank you for another informative website. Where else could I get that type of info written in such a perfect way? I’ve a project that I’m just now working on, and I’ve been on the look out for such information.

  86. I’m really impressed with your writing skills and also with the layout on your weblog. Is this a paid theme or did you customize it yourself? Either way keep up the excellent quality writing, it’s rare to see a great blog like this one these days..

  87. Oh my goodness! an amazing article dude. Thank you Nonetheless I am experiencing difficulty with ur rss . Don’t know why Unable to subscribe to it. Is there anybody getting similar rss problem? Anybody who knows kindly respond. Thnkx

  88. Wonderful work! This is the kind of information that should be
    shared around the web. Shame on Google for not positioning this put up
    higher! Come on over and consult with my website . Thanks =)

  89. I was recommended this web site by my cousin. I am not sure
    whether this post is written by him as no one else
    know such detailed about my trouble. You are incredible!

  90. Fantastic beat ! I would like to apprentice whilst you amend your site, how can i subscribe for a weblog website? The account aided me a appropriate deal. I were a little bit acquainted of this your broadcast provided vibrant transparent concept

  91. Many of these shows are operating out of bigger cities like New York or Los Angeles, so you arrive at travel free of charge driving under the influence in to the finals. A model with 3 CCD features a sensor that accumulates all the different colors (Red, Green, and Blue) resulting in superior color reproduction. Painting can be an authentic gift due to its long life and utility.

  92. Howdy! I know this is kinda off topic but I was wondering which blog platform are you using for this website? I’m getting fed up of WordPress because I’ve had issues with hackers and I’m looking at alternatives for another platform. I would be great if you could point me in the direction of a good platform.

  93. Woah! I’m really digging the template/theme of this blog. It’s simple, yet effective. A lot of times it’s very difficult to get that “perfect balance” between superb usability and visual appearance. I must say that you’ve done a fantastic job with this. Additionally, the blog loads very quick for me on Chrome. Exceptional Blog!

  94. Good post made here. One thing I would really like to say is the fact that most professional domains consider the Bachelor’s Degree just as the entry level requirement for an online college degree. Whilst Associate Certification are a great way to start out, completing your Bachelors presents you with many entrances to various occupations, there are numerous on-line Bachelor Diploma Programs available via institutions like The University of Phoenix, Intercontinental University Online and Kaplan. Another issue is that many brick and mortar institutions give Online editions of their diplomas but normally for a substantially higher price than the companies that specialize in online degree plans.

  95. Your style is really unique in comparison to other folks I have read stuff from. Thank you for posting when you ave got the opportunity, Guess I all just book mark this page.

  96. Wow, wonderful blog format! How long have you been blogging for? you make running a blog glance easy. The whole glance of your website is wonderful, let alone the content material!

  97. Someone necessarily assist to make critically posts I would state. This is the first time I frequented your web page and to this point? I surprised with the research you made to create this actual post amazing. Magnificent activity!

  98. I am extremely impressed with your writing skills as well as with the layout on your weblog. Is this a paid theme or did you customize it yourself? Either way keep up the excellent quality writing, it’s rare to see a nice blog like this one nowadays..

  99. I love your blog.. very nice colors & theme. Did you create this website yourself or did you hire someone to do it for you? Plz answer back as I’m looking to create my own blog and would like to find out where u got this from. many thanks

  100. Hey there just wanted to give you a quick heads up. The text in your content seem to be running off the screen in Internet explorer. I’m not sure if this is a formatting issue or something to do with web browser compatibility but I figured I’d post to let you know. The layout look great though! Hope you get the problem resolved soon. Cheers

  101. Do you mind if I quote a few of your articles as long as I provide credit and sources back to your blog? My blog is in the very same area of interest as yours and my users would truly benefit from some of the information you present here. Please let me know if this ok with you. Appreciate it!

  102. It’s a shame you don’t have a donate button! I’d definitely donate to this
    superb blog! I guess for now i’ll settle for bookmarking and adding
    your RSS feed to my Google account. I look forward to new updates and will talk about this
    site with my Facebook group. Chat soon!

  103. Hi there! I could have sworn I’ve been to this blog before but after reading through some of the post I realized it’s new to me. Nonetheless, I’m definitely delighted I found it and I’ll be book-marking and checking back often!

  104. Hello there, You have done an incredible job. I will certainly
    digg it and for my part recommend to my friends.
    I am confident they’ll be benefited from this site.

  105. whoah this bⅼog is great i really like studying your articles.
    Keep uр tһe great work! You understand, mɑny persons are hunting round for thiѕ info, yߋu could aid them greatly.

  106. Wow, incredible blog format! How lengthy have you ever been blogging for? you make blogging glance easy. The whole glance of your site is wonderful, as well as the content!

  107. I like this post, enjoyed this one appreciate it for posting. “The reward for conformity was that everyone liked you except yourself.” by Rita Mae Brown.

  108. I enjoy you because of each of your work on this web
    page. Ellie really likes doing investigations and it is
    easy to understand why. Almost all know all relating to the compelling way you
    offer precious secrets via the website and even foster participation from others on the theme plus our own princess is
    always starting to learn a lot. Take advantage of the remaining portion of the
    year. You are always performing a remarkable job.

  109. I’ll right away seize your rss as I can’t in finding your email subscription hyperlink or newsletter service. Do you’ve any? Kindly allow me know in order that I may just subscribe. Thanks.

  110. Hi, Neat post. There is a problem along with your web site in web explorer, may check this… IE still is the marketplace leader and a good component of other people will pass over your wonderful writing due to this problem.

  111. Thanks for ones marvelous posting! I genuinely enjoyed reading it, you could be
    a great author. I will ensure that I bookmark your blog and definitely will come back at some point.

    I want to encourage you to ultimately continue your great job, have a nice day!

  112. I do trust all of the concepts you’ve introduced to your post. They are very convincing and can certainly work. Nonetheless, the posts are too short for newbies. May you please extend them a little from next time? Thanks for the post.

  113. Thanks for the sensible critique. Me & my neighbor were just preparing to do a little research about
    this. We got a grab a book from our local library but I
    think I learned more clear from this post. I am very glad to see such
    magnificent information being shared freely out there.

  114. Ignatius Piazza, the Millionaire Patriot, wants you to see the most awe inspiring reality show series ever, called Front Sight Challenge. Cherry blossom tattoos represent different things in different cultures. These art reproductions of paintings printed on canvas sheets or paper after which framed and hung on walls.

  115. Excellent post. I was checking constantly this blog and I am impressed! Very useful information specifically the last part 🙂 I care for such info a lot. I was looking for this certain information for a long time. Thank you and best of luck.

  116. You really make it seem so easy with your presentation but I find this topic to be actually something that I think I would never understand. It seems too complex and very broad for me. I am looking forward for your next post, I’ll try to get the hang of it!

  117. Unquestionably believe that which you stated. Your favorite reason appeared to be on the web the easiest thing to be aware of. I say to you, I certainly get irked while people think about worries that they plainly don’t know about. You managed to hit the nail upon the top and also defined out the whole thing without having side effect , people could take a signal. Will probably be back to get more. Thanks

  118. I’ll right away snatch your rss feed as I can not to find your e-mail subscription link or newsletter service. Do you’ve any? Please let me understand in order that I could subscribe. Thanks.

  119. Thanks for another magnificent article. Where else could anyone get that type of info in such an ideal way of writing? I’ve a presentation next week, and I’m on the look for such information.

  120. Thanks for this article. I’d personally also like to express that it can often be hard when you are in school and starting out to establish a long credit standing. There are many individuals who are simply just trying to make it through and have a good or good credit history can often be a difficult point to have.

  121. I know this if off topic but I’m looking into starting my own weblog and was curious what all is required to get setup? I’m assuming having a blog like yours would cost a pretty penny? I’m not very web savvy so I’m not 100% certain. Any suggestions or advice would be greatly appreciated. Many thanks

Leave a Reply

Your email address will not be published. Required fields are marked *