Econ 101

I am in my 2nd semester of college, at 47 years old. I am fascinated by my economics class! So much so, that I'm spending a little time outside of the assignments, studying it on my own.

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Economist Richard Wolff explores the complex, worrisome economic relationship between China and the U.S. American consumerism, he says, funds China's ability to lend to the U.S. in what he calls a "replay in reverse" of the Marshall Plan.

http://networkedblogs.com/2XoJg

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Currently, I'm reading Bad Money, by Kevin Phillips, which my wife bought for me yesterday.

http://www.amazon.com/Bad-Money-Reckless-Politics-Capitalism/dp/0670019070

Only one chapter into it.  Fascinating!

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The REAL reason I am studying various lines is that I'm trying to make sense of what I see happening in the country and the world.  I can't bring myself to truly accept any conventional wisdom it seems.  I believe one of my responses to this week's class assignments illustrates the confusion. I brought up the point that as a general rule, I am almost always in favor of government returning the people's money to them (tax refunds, cuts, etc).
I wrote:

"...Oh, and as an afterthought. I understand that this may well result in inflation.  But as I've said before (I think), inflation is at this point a foregone conclusion. I believe the only thing holding inflation in check currently is the unemployment.  But if/when people get back to work, inflation will certainly kick in. You can't expect to print a gazillion dollars with nothing backing it and expect it will hold its purchasing power.

So again, with inflation being a given in my opinion, returning the people's money to them seems the best bet to me.  Perhaps if this returned money was saved, rather than immediately spent, it would help fight inflation. But now we're back to prolonging the recession without the spending.

What a mess!"

The Professor's Reply:


What I really like about your path thus far is the fact that you seem to be embracing education regarding many economic lines of thought. Too many aspiring economists resign their studies to include only those ideals that happen to fit their pre-disposed notions of what is "right" or "wrong".


As you read more and more from those who preceded you within academia, you will find that nearly all of these experts present viable theories and practices that have, at times, proven effective - and ineffective - where solving economic problems are concerned.


We end the course in a few weeks, but never let that dissuade you from keeping in contact if you should have anything you would like to discuss or pose a question about.
Have a great weekend!


Professor C
 (I purposely abbreviated his name.  We do NOT refer to him as Professor C)


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So yes, I will accept that as in the case of so many topics, that the truth lies in combining many answers.

Besides, it's said that whoever wins the wars gets to write the history books.  I suppose they also get an upper hand when writing economic theory.

Devy Kidd

http://www.rumormillnews.com/cgi-bin/forum.cgi?read=171043

Worth the Repeat

I remember seeing this years ago.  Got it again today & think it's worth the repeat.
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8th grade education

What it took to get an 8th grade education in 1895...

Remember when grandparents and great-grandparents stated that they only had an 8th grade education? Well, check this out. Could any of us have passed the 8th grade in 1895?

This is the eighth-grade final exam from 1895 in Salina, Kansas. It was taken from the original document on file at the Smokey Valley Genealogical Society and Library in Salina , and reprinted by the Salina Journal. 

 
8th Grade Final Exam: Salina , Kansas – 1895
 
Grammar 

(Time, one hour) 

1. Give nine rules for the use of capital letters. 

2. Name the parts of speech and define those that have no modifications.
3. Define verse, stanza and paragraph
4. What are the principal parts of a verb? Give principal parts of 'lie,''play,' and 'run.'
5. Define case; illustrate each case.
6. What is punctuation? Give rules for principal marks of punctuation.
7. Write a composition of about 150 words and show therein that you understand the practical use of the rules of grammar.

Arithmetic
(Time, 1 hour 15 minutes)
1. Name and define the Fundamental Rules of Arithmetic.
2. A wagon box is 2 feet deep, 10 feet long, and 3 feet wide. How many bushels of wheat will it hold?
3. If a load of wheat weighs 3,942 lbs., what is it worth at 50 cents/bushel, deducting 1,050 lbs. for tare?
4. District No. 33 has a valuation of $35,000. What is the necessary levy to carry on a school seven months at $50 per month, and have $104 for incidentals?
5. Find the cost of 6,720 lbs. of coal at $6.00 per ton.
6. Find the interest of $512.60 for 8 months and 18 days at 7 percent.
7. What is the cost of 40 boards which measure 12 inches wide and 16 ft. long at $20 per meter?
8. Find bank discount on $300 for 90 days (no grace) at 10 percent.
9. What is the cost of a square farm at $15 per acre, the distance of which is 640 rods?
10. Write a Bank Check, a Promissory Note, and a Receipt.

U.S. History
(Time, 45 minutes)1. Give the epochs into which U.S. History is divided.
2. Give an account of the discovery of America by Columbus .
3. Relate the causes and results of the Revolutionary War.
4. Show the territorial growth of the United States .
5. Tell what you can of the history of Kansas .
6. Describe three of the most prominent battles of the Rebellion.
7. Who were the following: Morse, Whitney, Fulton , Bell , Lincoln , Penn, and Howe?
8. Name events connected with the following dates: 1607, 1620, 1800, 1849, 1865

Orthography
(Time, one hour)
[Do we even know what this is?]1. What is meant by the following: alphabet, phonetic, orthography, etymology, syllabication
2. What are elementary sounds? How classified?
3. What are the following, and give examples of each: trigraph, subvocals, diphthong, cognate letters, linguals.
4. Give four substitutes for caret ‘u’. (HUH?)
5. Give two rules for spelling words with final ‘e’. Name two exceptions under each rule.
6. Give two uses of silent letters in spelling. Illustrate each.
7. Define the following prefixes and use in connection with a word: bi, dis-mis, pre, semi, post, non, inter, mono, sup.
8. Mark diacritically and divide into syllables the following, and name the sign that indicates the sound: card, ball, mercy, sir, odd, cell, rise, blood, fare, last.
9. Use the following correctly in sentences: cite, site, sight, fane, fain, feign, vane, vain, vein, raze, raise, rays.
10. Write 10 words frequently mispronounced and indicate pronunciation by use of diacritical marks and by syllabication..

Geography
(Time, one hour)1. What is climate? Upon what does climate depend?
2. How do you account for the extremes of climate in Kansas ?
3. Of what use are rivers? Of what use is the ocean?
4. Describe the mountains of North America
5. Name and describe the following: Monrovia, Odessa, Denver, Manitoba, Hecla, Yukon, St. Helena, Juan Fernandez, Aspinwall, and Orinoco
6. Name and locate the principal trade centers of the United States . Name all the republics of Europe and give the capital of each.
7. Why is the Atlantic Coast colder than the Pacific in the same latitude?
8. Describe the process by which the water of the ocean returns to the sources of rivers.
9. Describe the movements of the earth. Give the inclination of the earth.
 

Notice that this exam took FIVE HOURS to complete.

Gives the saying “He only had an 8th grade education” a whole new meaning, doesn’t it? This also is a perfect demonstration pointing out how poor our education system has become.   

And not because of the teachers.  They teach what is demanded by their superiors.  (I ADDED THIS SENTENCE.) 
 

And, NO - I don’t have the answers… I don’t even understand most of the questions!