CLANGING BELL
By Russ Heaps
(February 22, 2012) On the first day of Econ 101, Dr. Schultz, my econ professor at good ole W.U., told us bleary-eyed, hung-over college students that the most basic tenet of economics is guns or butter. That is, a country can only buy more guns if it buys less butter and vice versa. Of course, that was before someone figured out that you can have all you want of both if you just borrow a few trillion from China.