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"My sense of humor (or lack of?) seemed to spark some serious responses. Let me respond with a couple of (somewhat) serious replies."

I didn't realize it was humor. Sorry about that.

"Do you see any connection between risk/reward and tax rates? The *short* story from the economic perspective is that free markets foster entrepreneurship. Lower taxes are a clear indication of market freedom (although not the exclusive indication). One of the largest areas of control over the economy that Presidents can directly influence is tax rates. Reagan lowered them. Clinton raised them. Read chapter two for tomorrow and be prepared for a short quiz. Class dismissed."

I understand economics fine, got an A in micro and macro. I was trying to make the political point that Presidents get way too much credit for the economy while they are in office. While lower tax rates are positive for growth, the economy does well IN SPITE of gov't intervention (trying to get at unintended consequences here). While this may just be a semantics argument, Congress technically pulls the purse strings while the President signs the bills. (Civics 101) :)

"Hey, no talking in the back of the class. Now before you run off to get an MBA, here's something to think about. A significant (sadly enough) number of people coming out of undergraduate programs can't perform well in reading, writing, or arithmetic. It used to be that a high school diploma was proof of proficiency in those areas. If MBAs are in demand, it's only because of the devaluation of our educational standards (don't get me started on the NEA)."

I don't buy the argument that we have bad colleges. While we do have some education problems I know of no college graduates who can't do the three "r's" reasonably well.

"In addition, only one third of the schools granting MBA degrees are AACSB accedited. All schools combined churn out (I think) about 80,000 MBAs a year. So there are plenty of MBAs around that I wouldn't let operate on me... whoops, wrong profession... I mean... operate my business. What you probably meant to say was that there is a present shortage of *quality* MBAs. Now, go back to studying for your econ quiz."

I defer to you on that one since I have no numbers on the schools or graduates. I was referring to articles I had read in some financial magazine and one of the newspapers about the MBA job demand. Maybe I should have thrown that quality tag on there.
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