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Showing posts with the label #socialisim #capitalism #economics

FIVE BEST SENTENCES IN ECONOMICS - Thought Provoking

An economics professor at a college made a statement that he had never failed a single student before, but had recently failed an entire class. That class had insisted that socialism worked well since no one would be poor and no one would be rich, thus providing a great equalizer.  The professor then said, "OK, we will have an experiment in this class on the Socialist plan".... All grades will be averaged and everyone will receive the same grade so no one will fail and no one will receive an A.... (substituting grades for rupees - something closer to home and more readily understood by all). After the first test, the grades were averaged and everyone got a B.  The students who studied hard were upset and the students who studied little were happy. As the second test rolled around, the students who studied little had studied even less and the ones who studied hard decided they wanted a free ride too so they likewise studied little.  The second test average was a ...