Friday, March 27, 2009

Katie Couric Hits The Nail on Head Comes to Wrong Conclusion

Katie Couric is right. Americans know little about economics. But Obama doesn't need to become any more professorial than he already is. Perhaps CBS should start broadcasting economics 101 segments.

But CBS wouldn't do that because it knows that if there is a story about Rush Limbaugh saying another dumb thing, or Sean Hannity getting even more stupid, or Obama's teleprompter or the Octomom struggling, Americans will pay attention but if there is a great explainer on economics, Americans could care little.

But it's not up to Obama to change that. Good grief, he can't do everything. People really do think he walks on water. Besides, for anyone who's paying attention, Obama and his staff have already explained pretty much all there is to know.

I'm not sure it's necessary that we know exactly what a derivative formula is to understand what's happening in the economy, like Katie suggests.

It's up to us to show a little initiative and take it upon ourselves not to be dim witted. Watch the Sunday politics shows or visit Planet Money, which always has good explainers on the economy. Subscribe to an economics podcast.