Let's discuss: Student shames Economics teacher/football coach

I trust football coaches more than teachers to be fair

Better than some homo railing on about how great communism is

I know a devout socialist who is student teaching in Baton Rouge who has flat out admitted that she doesn’t know or understand anything economics related but is adamant that the minimum wage should be a livable wage (more than 15 an hour) and if you can’t afford to pay that you don’t deserve to own a business. She is in favor of the government taking over the social media sites and believes that internet should be free in addition to college for everyone.

She will graduate. She will teach. She will be an activist.

She also, of course, blames white men and colonialism for all of the worlds problems

Isn't this a decent example of supply and demand? There was a demand for a gopher for the football coach, so the coach supplied one.

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I know a devout socialist who is student teaching in Baton Rouge who has flat out admitted that she doesn’t know or understand anything economics related but is adamant that the minimum wage should be a livable wage (more than 15 an hour) and if you can’t afford to pay that you don’t deserve to own a business. She is in favor of the government taking over the social media sites and believes that internet should be free in addition to college for everyone.

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A lot of campus socialists understand economics well enough, but confuse "X SHOULD happen" with "X is actually possible" or "X can happen with no consequences". Thats the real big issue with them. They know what happening, but just assume everyone will buy in and not abuse the system, or that the money required for whatever it is will just come out of thin air, etc

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I trust football coaches more than teachers to be fair

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My high school football coach thought if you see the moon during daylight then it's Saturn. Plus, he made the prettiest girls sit on the front row.

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What does it mean to understand economics though? What is the bar we are using?

If its just basic concepts like supply and demand, I would argue around half if not most people understand that much.

If we are talking about the ability to analyze a supply chain in detail to determine potential weak points, bottlenecks, etc, how interest rates work, how taxes and tax rates work, etc then I would bet less than 10% truly understand it.

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Economics In One Lesson is all the average person needs, and it should be required reading in high school.

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is this a key reason that the average American doesn't understand basic economics?

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No. I taught Economics for 20 years. The majority of people are just too dumb to understand simple economic concepts. Sadly that's just the truth

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I taught Economics for 20 years

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What was your method of teaching the law of diminishing return? I'll tell you my Econ professor in graduate school's method of explaining. It stuck with after all of these years.

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Among extracurricular activities football probably has the biggest economic impact to the school's bottom line.

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Twice this year, kids came by selling coupons to local businesses for $25 a card to raise money for the football team. I told them I wasn't interested, but that I had four cars, clean micro-fiber cloths, buckets a hose and some car wash liquid. Told them to come back with their football buddies, wash and dry all my cars, and I'd make a donation of $100. I mean I can just go to the car wash for $7 and they offer free towels and vacuums. I thought I was being generous.

Both times the kids just shook their heads and left. Kids don't have any concept of how to raise money without some adult sticking some piece of crap in their hands and telling them they are responsible to sell X amount.