Don’t think, Do the Economics

There was a news article about an uptick in violence in a community in South Florida.

“There’s been an uptick in violence and most of it we know what’s going on, it’s poverty.  It’s economics,” said Daniella Pierre, president of the Miami-Dade branch of the NAACP. “They have failed to address the economic wellbeing of the black community.”

Ted Scouten

It reminds me of my college economics professor, Prof Yezer, who loved the quote, “Don’t think, do the economics.” His point was that the mathematics system wasn’t an intuitive, emotional system.

Now, what I recognize in the world today is that there is a surprising lack of actual economics shared in everyday life. For example, at one point in time in America, doctors typically earned less than tradespeople, and that taxes were once only levied on international trade, not on citizens’ hourly work.

As devastating as it is for Ms. Pierre to witness the violence in her community, I agree that economics can be part of the solution.

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