Words on Economics Does Not Lie

 
The dismal science is at last a science—and the world is the beneficiary.
by Guy Sorman
 
I took this essay as an economic lesson in classroom. Perfection in our future remains dim at least by today. But the history tells us that market economy is a better choice for our prosperity and welfare.
 
The author indicates ten propositions of market economy that should be rooted in my rationale:
1.  Market economy is the most efficient economic system;
2. Free trade helps economic development;
3. Good institutions help development;
4. The best measure of a good economy is its growth;
5. Creative destruction is the engine of economic growth;
6. Monetary stability, too, is necessary for growth; inflation is always harmful;
7. Unemployment among unskilled workers is largely determined by how much labor costs;
8. While the welfare state is necessary in some form, it isn’t always effective;
9. The creation of complex financial markets has brought about economic progress;
10. Competition is usually desirable.
 
Link to this article:
http://www.city-journal.org/2008/18_3_economics.html
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