One of The Motley Monk's fave analysts, Veronique de Rugy, has published yet another excellent article in Reason magazine. In this piece, de Rugy reminds The Motley Monk precisely why the nation's undergraduate should be required to study economics.
Required? Isn't that a bit authoritarian on the part of The Motley Monk? Shouldn't every course be and "elective"? Aren't young people sophisticated enough to know what they should study to be well-rounded, successful, and contributing members of society?
The answer: No. Requiring undergraduates to study economics would inform them of the steep cost they will bear for any unfettered idealism on their part.
FACT: Recessions and weak economies always hit younger people hard.
Despite President Obama's massive intervention in the economy
in the form of stimulus and job programs--don't forget the American
Recovery and Reinvestment Act of 2009---guess who's not seeing
much in it for them? Yep. Strike #1. The nation's young people.
FACT: Obamacare requires employers with 50+ workers to provide health
insurance to all employees or pay a $2k penalty per worker, increasing
the cost of current and future employees (meaning, those who work
30+ hours/week). So, in the real world of the marketplace, employers
are hiring more part-time workers and/or to cap their workers' time
at 30 hours. Guess who's not being employed full time? Righto, again!
Strike #2. The nation's young people.
FACT: Health insurance premiums are going up because health insurers must
accept everyone who applies, never raise premiums due to pre-existing
medical conditions, and pay for many medical conditions that previously
went uncovered. 80% of Americans will pay higher costs under
Obamacare. So, with 2/3rds of the uninsured US population under 40
years of age, guess who's getting disproportionately hurt? How'd you
guess? Strike #3! The nation's young people.
One would think that being struck out after three pitches by the knuckleballer Commander-in-Chief, young people would wise up. After all:
- Their federal benefits will be cut dramatically, their taxes increased, or some combination of the two.
- Superadd to that, they will find it harder to get a good job, buy a home, support a family, or do many of the things that were long considered a near-certainty for college graduates.
Considering the high price of college tuition, the joke's on all those idealistic young people who voted for the Democrat politicians who delivered all of those goodies. Worse yet, when those idealistic people finally do wise up, all of those politicians will be long gone.
Had those young people only been required to take a couple of courses in economics, they'd have learned the folly of their idealism before it denied them the quality of life they thought those politicians were going to hand to them on the silver platter of entitlements.
Let the discussion begin...
To read Veronique de Rugy's article, click on the following link:
"The Kids Aren't All Right."