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Danny Patterson

Fear the Boom and Bust Rap - 2 views

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    I found this fun music video of a rap dedicated to the economic principles of John Maynard Keynes.
Danny Patterson

Disputing the Economics of John Maynard Keynes - 0 views

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    PBS video disputing the economic principles set by John Keynes
Katherine Chipman

An introduction to the John Scopes (Monkey) Trial - 0 views

  • By 1925, Bryan and his followers had succeeded in getting legislation introduced in fifteen states to ban the teaching of evolution. In February, Tennessee enacted a bill introduced by John Butler making it unlawful "to teach any theory that denies the story of divine creation as taught by the Bible and to teach instead that man was descended from a lower order of animals."  
  •     Opening statements pictured the trial as a titanic struggle between good and evil or truth and ignorance. Bryan claimed that "if evolution wins, Christianity goes." Darrow argued, "Scopes isn't on trial; civilization is on trial." The prosecution, Darrow contended, was "opening the doors for a reign of bigotry equal to anything in the Middle Ages." To the gasps of spectators, Darrow said Bryan was responsible for the "foolish, mischievous and wicked act." Darrow said that the anti-evolution law made the Bible "the yardstick to measure every man's intellect, to measure every man's intelligence, to measure every man's learning." It was classic Darrow, and the press--mostly sympathetic to the defense--loved it.
  •     On the seventh day of trial, Raulston asked the defense if it had any more evidence. What followed was what the New York Times described as "the most amazing court scene on Anglo-Saxon history." Hays asked that William Jennings Bryan be called to the stand as an expert on the Bible. Bryan assented, stipulating only that he should have a chance to interrogate the defense lawyers. Bryan, dismissing the concerns of his prosecution colleagues, took a seat on the witness stand, and began fanning himself.     Darrow began his interrogation of Bryan with a quiet question: "You have given considerable study to the Bible, haven't you, Mr. Bryan?" Bryan replied, "Yes, I have. I have studied the Bible for about fifty years." Thus began a series of questions designed to undermine a literalist interpretation of the Bible. Bryan was asked about a whale swallowing Jonah, Joshua making the sun stand still, Noah and the great flood, the temptation of Adam in the garden of Eden, and the creation according to Genesis. After initially contending that "everything in the Bible should be accepted as it is given there," Bryan finally conceded that the words of the Bible should not always be taken literally. In response to Darrow's relentless questions as to whether the six days of creation, as described in Genesis, were twenty-four hour days, Bryan said "My impression is that they were periods."     Bryan, who began his testimony calmly, stumbled badly under Darrow's persistent prodding. At one point the exasperated Bryan said, "I do not think about things I don't think about." Darrow asked, "Do you think about the things you do think about?" Bryan responded, to the derisive laughter of spectators, "Well, sometimes." Both old warriors grew testy as the examination continued. Bryan accused Darrow of attempting to "slur at the Bible." He said that he would continue to answer Darrow's impertinent questions because "I want the world to know that this man, who does not believe in God, is trying to use a court in Tennessee--." Darrow interrupted his witness by saying, "I object to your statement" and to "your fool ideas that no intelligent Christian on earth believes." After that outburst, Raulston ordered the court adjourned. The next day, Raulston ruled that Bryan could not return to the stand and that his testimony the previous day should be stricken from evidence.
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  • A year later, the Tennessee Supreme Court reversed the decision of the Dayton court on a technicality--not the constitutional grounds as Darrow had hoped. According to the court, the fine should have been set by the jury, not Raulston. Rather than send the case back for further action, however, the Tennessee Supreme Court dismissed the case. The court commented, "Nothing is to be gained by prolonging the life of this bizarre case."
  • The Scopes trial by no means ended the debate over the teaching of evolution, but it did represent a significant setback for the anti-evolution forces. Of the fifteen states with anti- evolution legislation pending in 1925, only two states (Arkansas and Mississippi) enacted laws restricting teaching of Darwin's theory.
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    Overview of the John Scopes (Monkey) Trial
James Wilcox

Keynes, The Economic Consequences of the Peace | Library of Economics and Liberty - 1 views

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    This is an interesting book... especially because it was written between two world wars.
James Wilcox

John Maynard Keynes: The Concise Encyclopedia of Economics | Library of Economics and L... - 0 views

  • Contrary to some of his critics’ assertions, Keynes was a relatively strong advocate of free markets. It was Keynes, not adam smith, who said, “There is no objection to be raised against the classical analysis of the manner in which private self-interest will determine what in particular is produced, in what proportions the factors of production will be combined to produce it, and how the value of the final product will be distributed between them.”
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    Economic Encyclopedia on John Maynard Keynes
James Wilcox

JSTOR: Economica, New Series, Vol. 4, No. 16 (Nov., 1937), pp. 386-405 - 0 views

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    The full copy of "The Nature of the Firm" by R. H. Coase.  However, you do need to signed on through BYU or some other JSTOR access to see the entire document.
James Wilcox

Commanding Heights: Storyline | on PBS - 1 views

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    A cool PBS documentary on different Economic Policies and Reforms.
Andrew DeWitt

New Deal - Wikipedia, the free encyclopedia - 0 views

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    Keynesian economics of the 1930s
Andrew DeWitt

The Nature of the Firm - Wikipedia, the free encyclopedia - 0 views

  • Coase's analysis proceeds by considering the conditions under which it makes sense for an entrepreneur to seek hired help instead of contracting out for some particular task
  • because the market is "efficient" (that is, those who are best at providing each good or service most cheaply are already doing so), it should always be cheaper to contract out than to hire
  • Coase noted, however, that there are a number of transaction costs to using the market
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  • This suggests that firms will arise when they can arrange to produce what they need internally and somehow avoid these costs.
  • There is a natural limit to what can be produced internally, however.
Kristi Koerner

Economic Theories - 0 views

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    A collection of economic theories and discussions
Andrew DeWitt

Digital altruism - 0 views

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    SlideShare Presentation. Good teamwork ideas for final project
Ariel Szuch

Differences Between Classical & Keynesian Economics | Small Business - Chron.com - 0 views

  • Two economic schools of thought are classical and Keynesian. Each school takes a different approach to the economic study of monetary policy, consumer behavior and government spending. A few basic distinctions separate these two schools.
  • Classical economic theory is rooted in the concept of a laissez-faire economic market. A laissez-faire--also known as free--market requires little to no government intervention. It also allows individuals to act according to their own self interest regarding economic decisions.
  • Keynesian economic theory relies on spending and aggregate demand to define the economic marketplace. Keynesian economists believe the aggregate demand is often influenced by public and private decisions. Public decisions represent government agencies and municipalities. Private decisions include individuals and businesses in the economic marketplace. Keynesian economic theory relies heavily on the fact that a nation’s monetary policy can affect a company’s economy.
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  • Government spending is not a major force in a classical economic theory.
  • Too much government spending takes away valuable economic resources needed by individuals and businesses. To classical economists, government spending and involvement can retard a nation’s economic growth by increasing the public sector and decreasing the private sector. Keynesian economics relies on government spending to jumpstart a nation’s economic growth during sluggish economic downturns.
  • Classical economics focuses on creating long-term solutions for economic problems.
  • Keynesian economics often focuses on immediate results in economic theories. Policies focus on the short-term needs and how economic policies can make instant corrections to a nation’s economy. This is why government spending is such a key cog of Keynesian economics.
Andrew DeWitt

Wang tile - Wikipedia, the free encyclopedia - 0 views

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    Tiling Problem on Wikipedia
Ariel Szuch

Toward a Psychology of Uncertainty - 0 views

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    This is a book review, but it gave a little more information on the psychology of uncertainty that classical economics was based on, as mentioned in the readings for economics today.
Jake Corkin

A counter example to Keynesian effectiveness - 0 views

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    Here is another political blog post arguing against keynesian economics. The author focuses mostly on the devaluation of the dollar due to over-printing of currency.
Jake Corkin

Argument against Keynesian economics - 0 views

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    This is a blog post on a political blog called PoliticalWag. It argues against Keynesian Economics.
Andrew DeWitt

xkcd: a webcomic of romance, sarcasm, math, and language - 0 views

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    A funny comic strip for the intellectually minded. Randall Munroe, the creator of xkcd must be an open-source kind of guy because he has put something like a Creative Commons (noncommercial, attribution) license on his work.
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