Tuesday, August 7, 2018

Doug Ford and His Economic Theories Theory

Further to my post from this morning, A Buck a Beer - Great! Awesome! Dude!....

Ontario premier Doug Ford is seemingly fixated on returning to the idea of "a buck a beer". That whole notion is ludicrous and untenable. First of all, it conveniently ignores the reality of inflation. A buck from long ago was worth much more, containing more purchasing power, compared to one from today's hyper-inflated currency. I remember hearing this in 1980: "A dollar today is worth half of what it was worth in nineteen-seventy."

Mr Ford and his beer buddies clearly have no concept of inflation. He talks of how he will rejuvenate Ontario's finances ("make it great again"). Apparently Ford will grow the economy through a thorough and fundamental lack of understanding economics. And he's this great province's premier.


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