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Ha Joon Chang just astonished me.

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Marko replied on Sun, Apr 10 2011 10:14 PM

Economists here do not know what the price mechanism is, how it functions and what role it plays in the allocation of resources. The Acadamia here is very poor. It is like a 19th century fan base of Marx.

How easy is it for an economy graduate to find a job in Bulgaria? Are there too many economists or too few?

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Walden replied on Mon, Apr 11 2011 1:11 AM

>They're smarter, harder working, culturally superior, vastly more civilized and have personal social networks that do not rely on the State and are only rivaled by Jews (who are also better).

This is some bullcrap. Remember many of these same Jews are the first ones to raise Cain about political correctness which you are presently railing against and plenty of them fill the ranks of social democrats.

I don't agree that western culture as a whole is worse than eastern culture, if such a comparison is possible. Rather, the east is embracing a handful of aspects that the west is abandoning- elitism, reason and free exchange.

Look at Singapore for a moment- it epitomizes the eastern embrace of capitalism and is rated as one of the freer economic nations- but the state is engaged in a kind of hardcore micromanaging of the people. Example, early designation and training for jobs for school age children- a Marxist concept! China remains notoriously oppressive. Japan, Taiwan and Hong Kong are probably a little better but Taiwan/Japan have state health care and a kind of social democratic streak. I otherwise agree with you here but get a grip man.

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One interesting thing about a certain Mediterranean country spanning from Galilea to Ascalon is that it is considered both Eastern and Western, so some Occidental people say, "They are much better than us!" when they are in their down moments, and some Oriental people say, "They are much better than us!" when they are in their down moments.

And little do they know that this Mediterranean country has such problems in the most basic things from sewage treatment to declining academic competitiveness that many Mediterraneans residing there wish conditions there were a little more like those in some of the larger regions to their East and West.

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vaduka replied on Mon, Apr 11 2011 5:08 AM

Marko:

Economists here do not know what the price mechanism is, how it functions and what role it plays in the allocation of resources. The Acadamia here is very poor. It is like a 19th century fan base of Marx.

How easy is it for an economy graduate to find a job in Bulgaria? Are there too many economists or too few?

 

There is a State policy to produce as much as possible undergraduate and postgraduate students. Education is heavily subsidised. A semester tax is around 145leva, which is 107$. Each year around 3500 new economics students graduate. This is a lot. Add to this the very poor labour market, which is barely existent, because almost every employer hires only his friends or friends of his friends or family. The only good job opportunities are offered by foreign companies which do business in Bulgaria.

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Relax, that happens across the world.

When it is too difficult or too expensive to screen people, they will hire family and friends.

When it is too costly not to screen people, then they will not.

It depends on the time and place. Italy, one of the most advanced industrial nations, still has close family members running, say, magazines with even the photographer having a similar last name to all the other staff.

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vaduka replied on Mon, Apr 11 2011 8:20 AM

Before 1991, during the years of socialism, the State was the single employer. Now private individuals can own factors of production. But they believe that only the State can enforce contracts, and every contract to which the State is not a direct party is marked very very risky. That is why employers fear getting associated with non-family members or non-previously known individuals. By doing so they think they minimize the risk of an employee breaching the contract. Also this hiring practice grants them leverage when negotiating wage rates. That is because the employee is hired not because of his relatively higher marginal productivity; and there is not much of a competition to promote the natural tendency of the wage rate getting closer to the DMVP. Almost everyone here wants to work with or for the State. 

These conditions are sustained due to the fact that free entry in business is extremely hindered and even if you manage to organize a business the permission to expand is granted or denied by the State (former socialist leaders activity supported by the current State force).

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Marko replied on Mon, Apr 11 2011 9:06 AM

Education is heavily subsidised. A semester tax is around 145leva, which is 107$. Each year around 3500 new economics students graduate. This is a lot. Add to this the very poor labour market, which is barely existent, because almost every employer hires only his friends or friends of his friends or family.


There you go. So the economics study is abysmall, but at least the people are smart enough not to actually hire such economists.

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Marko replied on Mon, Apr 11 2011 9:09 AM

Look at Singapore for a moment- it epitomizes the eastern embrace of capitalism and is rated as one of the freer economic nations- but the state is engaged in a kind of hardcore micromanaging of the people. Example, early designation and training for jobs for school age children- a Marxist concept!


Actually Marx was opposed to professional specialisation. In Communism everyone was to be an all around dilettante.

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Duke replied on Tue, Apr 12 2011 2:23 AM

As a philosophy major from a Western University I was granted the privilege of paying thousands of dollars to be told I'm a brain-dead dumb peice of meat incapable of obtaining any knowledge whatsoever, that the choices I make are really delusions caused by a sputtering of brain chemicals, and that I should evaluate something as moral or immoral based on range of the moment feelings or "intuitions," without ever been taught what the actual need of morality is to my life.

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Duke replied on Tue, Apr 12 2011 2:39 AM

I want to comment quickly on my experience at the graduate school of a top 10 university in Seoul. Korea is a bit different than China because nearly every professor is educated in the US, and the US only. It is kind of rare to get a professor who was trained domestically if he is teaching at a top Korean university, and it is even rarer to find a professor taught somewhere else.

I had a professor of international political economy who astonished me with her ignorance. She had no idea what the difference between capitalism and democracy was, even when I spelled out the difference to her. She really had no knowledge outside of what she had studied in the US: Islamic banking. I think she did her thesis on Islamic banking and spend her time in graduate school studying Islamic banking. There was no breadth to her knowledge.

I had a class in international relations which focussed on teaching students how to properly write an academic essay (!!!) This was in graduate school! Many of the students were unfamiliar with how to write this way but as a Canadian I had done it since high school. I'm not going to get into plaguerism and theft as I understand some people here do not believe in IP.

If I had to sum up my experience: I was taught by inept and incompetent fools. These fools taught more or less neutral ideas, rather than horribly corrupt, civilization destroying ideas that I would have been trained to regurgitate in the West.

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Ultima replied on Tue, Apr 12 2011 8:37 PM

Walden:

>They're smarter, harder working, culturally superior, vastly more civilized and have personal social networks that do not rely on the State and are only rivaled by Jews (who are also better).

This is some bullcrap. Remember many of these same Jews are the first ones to raise Cain about political correctness which you are presently railing against and plenty of them fill the ranks of social democrats.

I don't agree that western culture as a whole is worse than eastern culture, if such a comparison is possible. Rather, the east is embracing a handful of aspects that the west is abandoning- elitism, reason and free exchange.

Look at Singapore for a moment- it epitomizes the eastern embrace of capitalism and is rated as one of the freer economic nations- but the state is engaged in a kind of hardcore micromanaging of the people. Example, early designation and training for jobs for school age children- a Marxist concept! China remains notoriously oppressive. Japan, Taiwan and Hong Kong are probably a little better but Taiwan/Japan have state health care and a kind of social democratic streak. I otherwise agree with you here but get a grip man.

 

Re: Singapore don't forget about the forced savings program.

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