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View Diary: The economic theology that beat Cantor (186 comments)

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  •  has he ever seen (6+ / 0-)

    the hospital bill for childbirth? and he's antiabortion but if he wants people to be rational economic actors in the health care economy, who could afford to have a kid?

    oh, now I get it.

    •  People still have kids, so the price is fine! (3+ / 0-)
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      Randolph06, Ice Blue, JerryNA

      At least, according to Brat.  I shall quote:  

      In economics, there can be no price too high, because if a product sells at a high price, then clearly it was not too high. It sold. The same goes for interest rates. Equilibrium is the price that will occur if prices are allowed to adjust. If a price is too high, it will adjust downward to equilibrium, automatically.
      Literally, he feels that we need to unravel insurance and roll back what feeble efforts we have at keeping prices down, so that people will know that prices are too high, so that [ insert some magical event here ] will happen and they will "automatically" lower to "equilibrium".
      •  When prices get too high, (0+ / 0-)

        then people will starve, they will die, and when that happens enough the economy will collapse and the country will descend into anarchy.  In other words, a GOP wet dream of paradise. Guns, guns, guns.

        “The future depends entirely on what each of us does every day.” Gloria Steinem

        by ahumbleopinion on Fri Jun 13, 2014 at 10:10:00 AM PDT

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        •  Don't think THAT is Brat's version of crazy (1+ / 0-)
          Recommended by:

          He doesn't seem to be a gun-nut social apocalypse supporter. Just a doctrinaire advocate of a fairly loathsome version of Christianity, dressed up as an economist.

          Having read most of his publicly available work, I'd say that he probably doesn't believe people would starve to death. If they cannot afford food, that means the food won't sell. Then, the price of food will lower via instant-response-time free market magic so that it will sell -- unless government regulation forbids that, of course.

          Needless to say, that's not how economics really works.

      •  so price is solely dependent on demand (3+ / 0-)
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        Naniboujou, Ice Blue, JerryNA

        and completely divorced from cost. Got it. So if demand for an operation pegs price at $800, but it costs the hospital $1500 to perform, the hospital will charge $800? Got it.

        Amazing what an economics/theology degree will buy you: faith-based economics

      •  If it works for corn, why can't it work for... (2+ / 0-)
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        Ice Blue, JerryNA
        ...gun violence?

        Answer:  Those things aren't "Markets", they are lives.

        I'm starting to wonder if the D can pick up this seat.  Seriously.  Is this a real possibility?  I really hope so.

      •  asdf (1+ / 0-)
        Recommended by:

        "In economics, there can be no price too high, because if a product sells at a high price, then clearly it was not too high. It sold."

        That's not a choice. That's extortion.

        “You think You're frightening me with Your hell, don't You? You think Your hell is worse than mine.” --Dorothy Parker

        by Ice Blue on Fri Jun 13, 2014 at 11:13:13 AM PDT

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    •  He's no spring chicken (2+ / 0-)
      Recommended by:
      Greenfinches, Randolph06

      Pretty soon he will have to see the full cost of aging, and then who will be boo hooing?

      "It were a thousand times better for the land if all Witches, but especially the blessing Witch, might suffer death." qtd by Ehrenreich & English. For Her Own Good, Two Centuries of Expert's Advice to Women pp 40

      by GreenMother on Fri Jun 13, 2014 at 10:07:23 AM PDT

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