IB Economic Classes Visit Detroit Economic Club

Caitlin Heenan, Opinion Editor

Rising to the podium, Senator Rand Paul is greeted to a standing ovation. Among the crowd of businessmen and women, economists, political figures and journalists sits seven IB Economics students.

One of the IB Economics classes attended the Detroit Economic Council last Friday at the Motor City Casino and Hotel to hear Senator Raund Paul’s plan for bankrupt cities like Detroit (or cities with an unemployment rate above 12.2%). Paul’s objective for Detroit was to create an Economic Free Zone, meaning rather than having the government or another richer city lend money to Detroit, the government would allow Detroit to use the money it was bringing in to bail itself out of bankruptcy.

“No central planner in Washington would decide where Detroit’s money goes, ” Senator Rand Paul said. “It goes to the people [businessmen and women] who¬† democratic capitalism has already decided can run a business.”

Paul also addressed issues such as education, school of choice and prison reform.

“I was surprised at how much I agreed with what Senator Raund Paul said, not just about Detroit but about the education system and prison reform as well,” junior Tyler Kalanquin said. “I think overall, this was an excellent experience for me to be able to see real world applications of economics for current issues.”