Economic Reality 101. Absolutely Worth the Read

Enjoy this free market quote

International trade is, as the economic writer Steven Landsburg explains in his 1993 book The Armchair Economist, a technology: “There are two technologies for producing automobiles in America. One is to manufacture them in Detroit, and the other is to grow them in Iowa. Everybody knows about the first technology; let me tell you about the second. First you plant seeds, which are the raw materials from which automobiles are constructed. You wait a few months until wheat appears. Then you harvest the wheat, load it onto ships, and sail the ships westward into the Pacific Ocean. After a few months, the ships reappear with Toyotas on them.”

The full article can be found here...and it discusses economic misconceptions of the voting public.

It's called

The 4 Boneheaded Biases of Stupid Voters

and it's written by Bryan Caplan   

Comments

[Business coach]

Interesting article with useful information. Automobile business is one big part of American economy and global business