The know no economics foundations latest dribble

This is simply glorious:

The impact of globalisation has made matters worse, contributing to an increasing specialisation of the workforce….

Yup, they\’re agin\’ the division and specialisation of labour, the very thing which makes Smithian economic growth happen.

Is there no beginning to their understanding of the subject of economics?

2 comments on “The know no economics foundations latest dribble

  1. I think I caught one of their folk on the BBC Breakfast tv programme today. I think it was Hayek who pointed out that paying people according to what “society” regards as the most useful form of activity begs the question: useful according to whom? The whole idea is nothing more than an attempt to substitute the judgement of half-educated lefties for the will as expressed by individuals in the market.

    I get paid what I can negotiate with my employer and others. That’s it.

  2. Useful according to “Society”, Jonathan. That is, useful according to the Government.

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