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Open Letter to Ed Schultz

December 6th, 2011

Dear Ed,

Love your show, and your down-to-eath presentation. Seems to me, though, that lots of folk out there don’t understand the basics of economics. “Trickle Up Economics” chart does a great job, but there are so many more ideas that need to be made clear.

  • What is a bank?  How does it work?
  • What does GDP mean? or GNP?
  • How does capitalism work?
  • What is socialism?
  • Why regulation?
  • What’s the Euro? (soon to be huge)
  • What’s a Board of Directors?
  • What does ‘Incorporation” really mean?
  •  The difference between TARP and the Stimulus

I’m not suggesting you start a classroom going–that would be really dreadful. But every day, one of the above or a similar economic question comes up, or is caused by one of the above subjects.

So why not have your staff you surely have a competent staff) prepare a whole variety of answers to such questions; then, if there’s a bank failure, say, you can talk for a few minutes about how banks work. Or Congress is passing a national debt constitutional amendment, explain how the national debt works, and why that’s different from the deficit.

In other words, devote a portion of each show explaining the economic (or governmental) underpinnings of the issues the rest of the show deals in.

Just a suggestion; I look forward to seeing its implementation.


Tom Bentley
Simpsonville, SC

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