“Opportunity Cost in the Job Market”…or…”Paul Krugman is a Left Wing Hack”

Here my friend Jonathan argues that, while it is true that Obama inherited an economy sinking into a deep recession, his policies have led to a subpar recovery. So, you can still make the case that there has been a net loss in jobs, if you consider opportunity cost. That is, if we should be adding more jobs (Y), but we’ve only been adding ~200,000 per month (X), then the loss is Y-X (in economic terms: opportunity cost).

HERE IS THIS SHORT…VERY SIMPLE CONCEPT EXPLAINED (WITH PICTURES!) SO EVEN PAUL CAN UNDERSTAND IT!

THX JFC!

 

 

http://www.economicthought.net/blog/?p=238

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