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American Focus > Blog > Economy > My Weekly Reading for December 29, 2024
Economy

My Weekly Reading for December 29, 2024

Last updated: December 29, 2024 1:13 pm
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My Weekly Reading for December 29, 2024
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In a recent article by David Friedman on his Substack, he delves into the issue of gerrymandering in Tennessee. He points out that despite Republicans winning just under two-thirds of the vote in the state, they were able to secure eight of the nine congressional seats. This disparity highlights the impact of gerrymandering on election outcomes, with the majority party being able to secure a disproportionate number of seats based on the distribution of voters in each district.

Friedman goes on to explain that in a first-past-the-post electoral system like the one in the US, the majority party in each district is able to secure the seat, even if the margin of victory is slim. This means that even with a two-to-one majority, the minority party may struggle to win any seats if their voters are not evenly distributed across districts. This raises questions about the fairness and representation in the electoral system.

In response to claims made in an article by The Economist about democracy fracturing in America, Friedman argues that current laws do not support forced redistricting to achieve proportional representation based on votes cast for each party. He highlights the lack of legal precedent for such actions and questions the implications for future elections.

Switching gears, an article by Jeanna Smialek in the New York Times explores the origins of FRED, the Federal Reserve Economic Data system. Born in 1991, FRED was the brainchild of economist Homer Jones, who sought to make central bank decisions more data-driven. Jones’ efforts to provide data reports to Fed officials laid the foundation for the comprehensive economic data system that is widely used today.

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Lastly, Chelsea Follett’s article on Human Progress delves into the history of dentistry, highlighting the challenges faced by our ancestors in maintaining dental health. From primitive toothbrushes to early tooth extraction methods, the evolution of dentistry has been marked by significant advancements over the centuries. The article sheds light on the struggles faced by preindustrial societies in combating tooth decay and the impact of sugar consumption on dental health.

In conclusion, these articles offer insights into various aspects of politics, economics, and healthcare, shedding light on important issues that continue to shape our society today. From the impact of gerrymandering on election outcomes to the evolution of data systems and healthcare practices, these articles provide valuable perspectives on the challenges and advancements that have shaped our world. In practical terms, the concept of judging an individual based on the actions and characteristics of their ancestors rather than their own is fundamentally flawed. This form of collectivism, as Ayn Rand aptly described it, is the epitome of primitive thinking. Unfortunately, this primitive collectivism was deeply ingrained in American society for a significant portion of the twentieth century through the implementation of Jim Crow laws. These laws systematically marginalized African Americans, enforcing racial segregation and stripping them of their rights in the Southern states.

As Ibram X. Kendi pointed out, many white individuals worldwide have failed to acknowledge how their own identities are shaped by the construct of whiteness. This failure to recognize the impact of whiteness hinders their ability to connect with humanity on a deeper level. Kendi’s approach to “antiracism” is, paradoxically, rooted in racism itself. By categorizing individuals based on their race, specifically “whiteness,” Kendi perpetuates the same collectivist mindset that he claims to oppose.

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Moving beyond the realm of race, we can observe a similar trend in the field of economics. The current state of economics education is concerning, with many curricula failing to instill a true understanding of the economic way of thinking in students. Theory classes often oversimplify market dynamics, while empirical classes prioritize statistical analysis over practical application. As a result, economics majors may possess technical skills but lack a comprehensive understanding of real-world economic phenomena.

To address this issue, it is imperative to revamp economics curricula to focus on developing critical thinking skills and a deep understanding of economic principles. By encouraging wide reading and fostering a culture of intellectual curiosity, universities can produce economists who are well-equipped to analyze complex economic issues and contribute meaningfully to the field. Students who are unwilling to engage in rigorous academic study and critical thinking may not be suited for an economics program.

In conclusion, the practice of judging individuals based on collective characteristics or actions, whether in terms of race or ancestry, is inherently flawed. By promoting individualism and critical thinking in both societal attitudes and academic disciplines, we can work towards a more inclusive and intellectually robust future.

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