Economics is economics, right?

I guess it depends on where you learned it.

Economic texts in Korea are being reviewed for possible...oddities.

Examples include the view that dining out with the family is selfish and shows a lack of concern for the poor, or that it is impossible to overcome poverty under capitalism no matter how hard people work.


Among some 200 inaccurate statements the researchers found were clangers like “Wages go up when labor supply exceeds demand."

Of course, economic ignorance and illiteracy is alive and well all over the world. With better animation than the Korean texts (I'm willing to bet, anyway), proves the point in a very catchy way: "Big Box Mart" (sung to the tune "Oh, Susannah") .

"Oh, it starts with sweat-shop labor in a foreign factory..."

Eh, if they're not even getting supply and demand right, you can imagine how good the rest of it is. But hey, as long as it's a fun ditty to sing along with, right?


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This page contains a single entry by published on October 14, 2005 2:35 PM.

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