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Economic Teacher Who .. Never Failed A Class

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From a Post in Facebook (Doris Jones). Not sure if its a true story, but nice to read.

An economics teacher at a local school made a statement that he had never failed a single student before, but had recently failed an entire class. That class had insisted that Gillard/Brown socialism worked and that no one would be poor and no one would be rich, a great equalizer.

The teacher then said, "OK, we will have an experiment in this class on the Gillard/Brown 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 dollars - 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 studied little.

The second test average was a D! No one was happy.

When the 3rd test rolled around, the average was an F.

As the tests proceeded, the scores never increased as bickering, blame and name-calling all resulted in hard feelings and no one would study for the benefit of anyone else.

To their great surprise, ALL FAILED and the teacher told them that socialism would also ultimately fail because when the reward is great, the effort to succeed is great, but when government takes all the reward away, and gives to those who do nothing, no-one will try

Or want to succeed.

It could NOT be any simpler than that.

Remember, there IS a test coming up.--->> The next election.

These are possibly the 5 best sentences you'll ever read and all applicable to this experiment:

1. You can not legislate the poor into prosperity by legislating the wealthy out of prosperity.

2. What one person receives without working for, another person must work for without receiving.

3. The government cannot give to anybody anything that the government does not first take from somebody else.

4. You cannot multiply wealth by dividing it!

5. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that is the beginning of the end of any nation.

Can you think of a reason for not sharing this? Neither could I.

Edited by getknk
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In the case of Australia, they're making money hand over fist by the mere fact that they're sitting on a big pile of minerals that China wants to buy. It has nothing to do with hard work or motivation. A more accurate analogy would be if the teacher said up front that he was handing out an average of B grades no matter what. The students could work really hard individually to get a range of A to F, or spend their free time more constructively and all get a B. What would happen, and, honestly, which is more constructive? (Not that I would argue for the UK to take this option, as we're not sitting on a huge pile of mineral wealth.)

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Great. But what happens if someone hoards all the pens, rents out the paper to write your answers on and privatises the library?

Stupid story.

Someone would produce more pens,paper and build a new libary to meet demand. It is the large state who makes the rules that stop production and building taking place.

This story exactly shows the problem of taking from the productive to give to the non productive. People should have to take responsibility for themselves.

Also think this should stay on main forum

Edited by doomed
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  • 1 month later...

Great. But what happens if someone hoards all the pens, rents out the paper to write your answers on and privatises the library?

Economics is the study of incentives and how people respond to them, understand that and you understand the world (more or less).

Another person supplies the pens, paper and library, if it's worth their while. If not who cares?

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