Comments on: Why learning economics is SO IMPORTANT! The case of Ban Ki Moon… http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/ for students and teachers of AP and IB Economics Sat, 22 Nov 2008 10:33:58 +0000 http://wordpress.org/?v=2.6.3 By: Dana Y. http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-5053 Dana Y. Tue, 29 Apr 2008 18:22:27 +0000 http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-5053 First off, I would like to say, Mr. Ban's comments were a bit hastily prepared but not entirely ludicrous. The gravity of the global food crisis does require attention and Mr. Ban might have been employing a hyperbole (jk). Anyways, I too, like Jinny, believe that merely subsidizing farmers will not solve the core of the issue. The crux of the issue is very multifaceted and incredibly complex: rising oil prices, global warming, the evergrowing demands of the newly booming Chinese and Indian economies, overconsumption by nearly all countries, and the list goes on. So what should we do? Tackle these problems, one by one. First off, I would like to say, Mr. Ban’s comments were a bit hastily prepared but not entirely ludicrous. The gravity of the global food crisis does require attention and Mr. Ban might have been employing a hyperbole (jk). Anyways, I too, like Jinny, believe that merely subsidizing farmers will not solve the core of the issue. The crux of the issue is very multifaceted and incredibly complex: rising oil prices, global warming, the evergrowing demands of the newly booming Chinese and Indian economies, overconsumption by nearly all countries, and the list goes on. So what should we do? Tackle these problems, one by one.

]]> By: mina.song http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-5042 mina.song Tue, 29 Apr 2008 14:43:34 +0000 http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-5042 This is really ashame for being Korean... And.. one more thing... His name is Ban Ki Moon.. which is in order of Asian way not American way. so... his last name is not Moon, his Last name is BAN. which means... we have call him Mr. Ban.. not Mr. Moon... OMG..... Claire..... he is not Mr. Moon..... This is really ashame for being Korean…
And.. one more thing… His name is Ban Ki Moon.. which is in order of Asian way not American way.
so… his last name is not Moon, his Last name is BAN. which means… we have call him Mr. Ban.. not Mr. Moon…
OMG…..
Claire….. he is not Mr. Moon…..

]]> By: Julie http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-5038 Julie Tue, 29 Apr 2008 13:35:49 +0000 http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-5038 the content and title of this article is pretty deceiving for those who dont understand economics. “One thing is certain, the world has consumed more (food) than it has produced” over the last three years, he said. how is that possible? pretty interesting... the content and title of this article is pretty deceiving for those who dont understand economics.
“One thing is certain, the world has consumed more (food) than it has produced” over the last three years, he said. how is that possible? pretty interesting…

]]> By: Jinny http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-5026 Jinny Tue, 29 Apr 2008 11:48:41 +0000 http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-5026 Let's give some slack for Ban Ki Moon here. Yes, his speech was indeed a little misleading, but all in all, I think his claim was quite plausible, since it IS possible to consume more than we produce. Also, I think what he was trying to get was to emphasize the immediacy of the world-wide food shortage. And many people have suggested subsidies to stimulate farmers to grow more food. However, I don't think this can be simply solved by subsidies because there are issues with set-asides. For instance, in France, the government actually pays the farmers not to produce more output in order to prevent making surplus so that they do not have to sotre the surplus and maintain a price floor. So, I wonder how the world will solve this problem. Let’s give some slack for Ban Ki Moon here. Yes, his speech was indeed a little misleading, but all in all, I think his claim was quite plausible, since it IS possible to consume more than we produce. Also, I think what he was trying to get was to emphasize the immediacy of the world-wide food shortage. And many people have suggested subsidies to stimulate farmers to grow more food. However, I don’t think this can be simply solved by subsidies because there are issues with set-asides. For instance, in France, the government actually pays the farmers not to produce more output in order to prevent making surplus so that they do not have to sotre the surplus and maintain a price floor. So, I wonder how the world will solve this problem.

]]> By: Jennifer Choi http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-5007 Jennifer Choi Mon, 28 Apr 2008 16:10:59 +0000 http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-5007 Okay so reading the article and the comments was very funny. First of all, yes, as Chan Min said, it's Mr.Ban not Mr.Moon haha. Second, I think a lot of us missed the last phrase when he said "the world has consumed more than it has produced *over the last three years*". As Andy explained above, consuming more than the produced amount is actually possible if you think about inventories of food from past years' production. I think Mr.Ban's point in saying "we need a real world and not the world of economic theories" is that it is urgent that we take actions rather than be waiting and just sit around talking about such theories. One of the United Nations' tasks is dealing with problems of economically less developed countries; the problems those countries are facing are more than 'just a recession,' but what they are facing are scarcity of food and death of millions of people due to hunger. Okay so reading the article and the comments was very funny. First of all, yes, as Chan Min said, it’s Mr.Ban not Mr.Moon haha. Second, I think a lot of us missed the last phrase when he said “the world has consumed more than it has produced *over the last three years*”. As Andy explained above, consuming more than the produced amount is actually possible if you think about inventories of food from past years’ production.
I think Mr.Ban’s point in saying “we need a real world and not the world of economic theories” is that it is urgent that we take actions rather than be waiting and just sit around talking about such theories. One of the United Nations’ tasks is dealing with problems of economically less developed countries; the problems those countries are facing are more than ‘just a recession,’ but what they are facing are scarcity of food and death of millions of people due to hunger.

]]> By: Kevin Yeh http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-4995 Kevin Yeh Mon, 28 Apr 2008 14:07:06 +0000 http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-4995 lawl econ nob. Anyways, yeah like some ppl have said before me, the best bet would be to provide a subsidy for farmers to stimulate more food growth. lawl econ nob.
Anyways, yeah like some ppl have said before me, the best bet would be to provide a subsidy for farmers to stimulate more food growth.

]]> By: andyxu http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-4994 andyxu Mon, 28 Apr 2008 14:02:01 +0000 http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-4994 1) Moon said the world has consumed more food than it has produced "Over The Last Three Years". Why is everyone so convinced this is not (theoretically) possible? You can easily achieve what Moon said by producing more food than you consume before "these three years" (creating a food surplus), store the food, and consume the food over the next three years. 2) Instead of establishing a "special task force" and "Asking farmers to grow more food", why does the UN simply provide an incentives for these farmers to work harder in the fields, one example is a subsidy, another is an restriction of farmlands used to non-agricultural purposes. 1) Moon said the world has consumed more food than it has produced “Over The Last Three Years”.

Why is everyone so convinced this is not (theoretically) possible?

You can easily achieve what Moon said by producing more food than you consume before “these three years” (creating a food surplus), store the food, and consume the food over the next three years.

2) Instead of establishing a “special task force” and “Asking farmers to grow more food”, why does the UN simply provide an incentives for these farmers to work harder in the fields, one example is a subsidy, another is an restriction of farmlands used to non-agricultural purposes.

]]> By: Sharon Li http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-4983 Sharon Li Mon, 28 Apr 2008 13:07:23 +0000 http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-4983 Why can't we just grow more food? It would be kind of cool if we could donate fat to starving countries, like this facebook group says http://www.facebook.com/group.php?gid=2228069967 hehe. Why can’t we just grow more food? It would be kind of cool if we could donate fat to starving countries, like this facebook group says http://www.facebook.com/group.php?gid=2228069967
hehe.

]]> By: MichaelChow http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-4978 MichaelChow Mon, 28 Apr 2008 12:37:28 +0000 http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-4978 I think Trevor makes a good point on how if the supple of food if it gets low then can't we just demand more? Overall I think this is pretty ridiculous how he is assembling a "task force" to get farmers to make more food. I think Trevor makes a good point on how if the supple of food if it gets low then can’t we just demand more? Overall I think this is pretty ridiculous how he is assembling a “task force” to get farmers to make more food.

]]> By: Chan Min Park http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-4976 Chan Min Park Mon, 28 Apr 2008 12:25:21 +0000 http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-4976 Mr.Welker, it's not Mr.Moon it's Mr.Ban. Thats like calling me Mr.Min not Mr.Park! I think he simply meant we should just stop talking about how to fix this problem by looking at the theories but actually start working on it because this problem is becoming serious. And I think as UN Chief he should be worried because this is not simply dealing with the economically active countries we know but countries like Ghana etc. They are intending to "raise $750 million per year to help feed 73 million people in 80 countries." Mr.Welker, it’s not Mr.Moon it’s Mr.Ban. Thats like calling me Mr.Min not Mr.Park! I think he simply meant we should just stop talking about how to fix this problem by looking at the theories but actually start working on it because this problem is becoming serious. And I think as UN Chief he should be worried because this is not simply dealing with the economically active countries we know but countries like Ghana etc. They are intending to “raise $750 million per year to help feed 73 million people in 80 countries.”

]]> By: Trevor Sun http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-4973 Trevor Sun Mon, 28 Apr 2008 11:58:02 +0000 http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-4973 So if the world is running low on food, cant we just tell the farmers to grow more? Why does he have to assemble a task force to deal with this problem, or did i misread something? I can see how we eat more food than we create but I think hes' worrying about it a little too much. So if the world is running low on food, cant we just tell the farmers to grow more? Why does he have to assemble a task force to deal with this problem, or did i misread something? I can see how we eat more food than we create but I think hes’ worrying about it a little too much.

]]> By: Jeewon http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-4972 Jeewon Mon, 28 Apr 2008 11:57:33 +0000 http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-4972 Hahaha, the way Mr. Moon said it is really funny, since the world can't consume more than it produced, but when we think about inventories it makes much more sense.. And I agree with Helen, that Ban Ki Moon's plan to form a "task force" is intended to accelerate the force of the invisible hand that is to allocate more resources toward food production. So let's stop making fun of Mr. Moon ;) Hahaha, the way Mr. Moon said it is really funny, since the world can’t consume more than it produced, but when we think about inventories it makes much more sense.. And I agree with Helen, that Ban Ki Moon’s plan to form a “task force” is intended to accelerate the force of the invisible hand that is to allocate more resources toward food production. So let’s stop making fun of Mr. Moon ;)

]]> By: howardlin http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-4940 howardlin Mon, 28 Apr 2008 06:23:29 +0000 http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-4940 This is very interesting... Because how can "the world consume more than it has produced ." It's really impossibe because then who in the world PRODUCED the food?! The "invisible hand" will allocate the correct amount of resources towards the right amount of products. This is very interesting… Because how can “the world consume more than it has produced .” It’s really impossibe because then who in the world PRODUCED the food?! The “invisible hand” will allocate the correct amount of resources towards the right amount of products.

]]> By: richardtu http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-4939 richardtu Mon, 28 Apr 2008 06:21:28 +0000 http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-4939 First of all, when you think about Ben's first statement, where he said, "The world has consumed more than it has produced." How is this even possible? You cannot consumer something that doesnt exist. Well, it make sense when you say, "a country has consumed more than it has produced," because they can do that through trade, and help benefits each other. BUT, it just doesnt make sense when you said the world has done so. Also, he said that, we dont need a world of economic theories, we need a REAL world. if you think about this, how do we govern the real world and its financial foundation? We have to learn from the economic theories, and through our mistakes. Therefore, without economic theories, we wont be able to govern a country's national income etc. Furthermore, as suggested we do not need a "task force" to increase our food supply, the "invisible hand" will guide itself and shift out the supply curve. First of all, when you think about Ben’s first statement, where he said, “The world has consumed more than it has produced.” How is this even possible? You cannot consumer something that doesnt exist. Well, it make sense when you say, “a country has consumed more than it has produced,” because they can do that through trade, and help benefits each other. BUT, it just doesnt make sense when you said the world has done so. Also, he said that, we dont need a world of economic theories, we need a REAL world. if you think about this, how do we govern the real world and its financial foundation? We have to learn from the economic theories, and through our mistakes. Therefore, without economic theories, we wont be able to govern a country’s national income etc. Furthermore, as suggested we do not need a “task force” to increase our food supply, the “invisible hand” will guide itself and shift out the supply curve.

]]> By: KatherineYang http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-4935 KatherineYang Mon, 28 Apr 2008 04:38:21 +0000 http://welkerswikinomics.com/blog/2008/04/21/why-learning-economics-is-so-important-the-case-of-ban-ki-moon/#comment-4935 I don't like how he used the words "task force" it implies it's a situation you can directly confront. Like how Mr. Welker says its telling people to just grow more food like that will solve anything. I don’t like how he used the words “task force” it implies it’s a situation you can directly confront. Like how Mr. Welker says its telling people to just grow more food like that will solve anything.

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