Amusement after deadlines

Even, some academics such as professors can get it wrong sometimes when assessing the economic situation. Now the dissertation period is nearly over, this article was quite amusing reading. However, I am surprised it was even published which demonstrates that we should not believe everything we read.

This article states the economic crisis of 2008 was caused by China, not the US. Most academics in economics understand the basic premise that taking on too much debt and increasing the supply of money to drive down interest rates is bad economics.

Eventually, the tax revenues to support the interest on this debt becomes unsustainable and the country may default. This practice has been unprecedented in the US, yet the writer blames the savers and creditors in this world, China. This ludicrous statement is why as academics, we should apply critical thinking at all times. 

Categories: Academic

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