Conservapedia - User contributions [en]

Economics

2007-06-21T17:19:18Z

Factchecker123: bull market is in finance, including other econ system

[[Image:NYSE-floor.jpg|right|thumb|Face-to-face trading on the [[New York Stock Exchange]]'s trading floor.]]
'''Economics''' is a social [[science]] concerned with how society allocates its limited resources. Economists normally take a [[utilitarian]] view of the world, being more concerned with the most efficient systems than with social equity, or societal values.

It is generally accepted that the formal study of economics began with the Scotsman [[Adam Smith]], in his book [[An Inquiry into the Nature and Causes of the Wealth of Nations]]. The origins of the field however, lie in the [[banking]] industry, which has developed over thousands of years.{{fact}}

Economics generally divides into two broad areas of study [[Macroeconomics]], which is concerned with the study of a given economy as a whole, and [[Microeconomics]], which is concerned with a particular market, or firm within that economy.

Examples of economic systems are [[capitalism]], [[socialism]],[[communism]], and [[feudalism]].

[[Category:Economics| ]]

Roger Schlafly

2007-06-21T17:16:48Z

Factchecker123: adding in other family member, which conservapedia refuses to acknowledge, depite being in the founder's own family

[[Image:03011707c.jpg|right|thumb]]
'''Roger Schlafly''' is an independent computer programmer. In 1980, he received a PhD in mathematics from University of California at Berkeley, under Abel prize laureate Isadore Singer. He is the son of conservative activist [[Phyllis Schlafly | Phyllis Schlafly]] and the brother of Conservapedia founder [[Andrew Schlafly | Andrew Schlafly]]. He is also the brother of [[John Schlafly]], a [[homosexual]].<ref>http://www.boston.com/news/nation/articles/2004/09/02/at_80_schlafly_is_still_a_conservative_force/</ref>

His blog is called [http://www.spinstop.com/buzz/ Dark Buzz].

==Publications & Patents==
*[http://www.jstor.org/view/00029947/di970319/97p00577/0 Rigidity of Pseudoconformal Connections]
*[http://www.springerlink.com/content/h3837x61q777105x/ Universal connections]
*[http://www.ams.org/era/1995-01-03/S1079-6762-95-03001-0/S1079-6762-95-03001-0.pdf THE DOUBLE BUBBLE CONJECTURE]
*[http://www.emis.ams.org/journals/Annals/151_2/hass.pdf Double bubbles minimize]
*[http://patft.uspto.gov/netacgi/nph-Parser?Sect2=PTO1&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=1&f=G&l=50&d=PALL&RefSrch=yes&Query=PN%2F5600584 Interactive formula compiler and range estimator]
*[http://patft.uspto.gov/netacgi/nph-Parser?Sect2=PTO1&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=1&f=G&l=50&d=PALL&RefSrch=yes&Query=PN%2F5274707 Modular exponentiation and reduction device and method ]
*[http://patft.uspto.gov/netacgi/nph-Parser?Sect2=PTO1&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=1&f=G&l=50&d=PALL&RefSrch=yes&Query=PN%2F5471612 Electronic spreadsheet system and methods for compiling a formula stored in a spreadsheet into native machine code for execution by a floating-point unit upon spreadsheet recalculation]
*[http://patft.uspto.gov/netacgi/nph-Parser?Sect2=PTO1&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=1&f=G&l=50&d=PALL&RefSrch=yes&Query=PN%2F5299197 Communications packet server protocol]
*[http://www.springerlink.com/content/v75073523676j340/ On equivariant isometric embeddings]
*[http://projecteuclid.org/Dienst/UI/1.0/Summarize/euclid.pjm/1102734394 Universal connections: the local problem]
[[category:scientists]]

Laffer curve

2007-06-21T17:04:20Z

Factchecker123: adding in some perspective

The Laffer curve illustrates that increasing tax rates may decrease government revenue as people stop working, and increasing tax rates towards 100% causes government revenue to decline to zero as everyone stops working. Government revenue is not always increased by increasing taxes. This curve is named after [[Arthur Laffer]], an influential economist behind the tax cuts of President [[Ronald Reagan]].

If the tax rate is higher than t* in the Laffer curve below, then increasing taxes causes government revenue to decrease. Few dispute the underlying principle of the Laffer curve, but the debate centers on where to set the tax rate to obtain the maximum revenue. Conservatives tend to cite the Laffer Curve to support the position that marginal tax rates are too high, though no tax increase decreased revenue in American history, pointing to a position left of t* on the Laffer Curve.

<center>
== Laffer curve ==
<br>

[[Image:Laffer_curve.jpg]]
</center>
[[category:economics]]

Supply-side economics

2007-06-21T16:58:29Z

Factchecker123: adding in markers of lack of citation, adding in a criticism section

'''Supply-side economics''' is a [[macroeconomics|macroeconomic]] concept developed in the 1970's as a counter to the dominant Keynesian macroeconomic theory during the years of [[stagflation]]. Before the early 1980's Keynesian views predominated. Economist [[John Maynard Keynes]] believed that "demand creates supply"{{fact}}. This concept drove many of the ideas behind the recovery from the Great Depression. Government played a role in subsidizing individuals by giving them jobs and therefore an income to have to spend on goods. This "demand-side" theory posited that demand would create supply, and feedback to in turn create more demand.

Supply-side theory is based on Say's law, which, paraphrased, states that supply creates its own demand. A simplified version of these ideas were taken up as a popular political movement during the 1980 election campaign, with [[Ronald Reagan]] proposing a modified policy of supply-side economics (although [[liberals]] and some conservatives disparagingly used the term "trickle-down" economics). <ref>[http://www.investopedia.com/articles/05/011805.asp Understanding Supply-Side Economics], David Harper </ref> The decreased regulation begun in the late 1970s, together with lower marginal tax rates would provide enough savings and investment to pool new capital and drive economic growth. Manufacturers for example, would hire more people, produce more, and create more demand and economic activity. The idea gained wide popular support{{fact}}, and became known as "Reaganomics".

Most criticism came from the Left, but some on the Right was skeptical as well. [[George H.W. Bush]] during a campain debate famously referred to it as "[[voodoo economics]]", due to the discarding of [[New Deal]] orthodoxy. On the Left, it was seen as threat to the [[welfare state]] with the loss of federal revenues in tax cuts that had funded the [[War on Poverty]] programs for more than a decade.

One key aspect of the program in 1982 was tax cuts for Research and Development (R&D) in high technology firms intended to make United States more competetive with Japanese electronics manufactors which had dominated the industry since the late 1960s. Liberals were critical of the idea, claiming "tax cuts for business" only benefited "the rich"; however, the "trickle down effect" became a flood of prosperty in high tech industries by the mid to late 1990s.{{fact}}

Murray Rothbard wrote:
:Specifically, Reagan called for a massive cut in government spending, an even more drastic cut in taxation (particularly the income tax), a balanced budget by 1984 (that wild-spender, Jimmy Carter you see, had raised the budget deficit to $74 billion a year, and this had to be eliminated), and a return to the gold standard, where money is supplied by the market rather than by government. In addition to a call for free markets domestically, Reagan affirmed his deep commitment to freedom of international trade. [http://www.mises.org/story/1544]

==Criticism==

However, despite Reaganomics stress that lower tax rates spur economic growth, the American economy under Clinton had stronger growth than under Reagan's tenure, depite increases in marginal tax rates. <ref> http://www.forbes.com/2004/07/20/cx_da_0720presidents_print.html</ref>

==References==
<references/>

==External Links==
*[http://www.mises.org/story/1544 The Myths of Reaganomics], by Murray N. Rothbard
*[http://72.14.209.104/search?q=cache:ZQm_5SG3WwQJ:www.davidsmick.com/WSJ070881.pdf+%22Reaganomics%22+includes+the+idea+of+tax+cuts&hl=en&ct=clnk&cd=7&gl=us&client=firefox-a What Reaganomics Is All About]
*http://etext.library.adelaide.edu.au/k/keynes/john_maynard/k44g/
*[http://www.independent.org/publications/tir/article.asp?issueID=15&articleID=89/ "My Time with Supply-Side Economics"], by Paul Craig Roberts
*[http://www.independent.org/publications/tir/article.asp?issueID=20&articleID=231/ "What Really Happened in 1981"], by Alan Reynolds and Paul Craig Roberts

[[Category:Economics]]