Of Idiots Who Think They Know What Economics Is
You've probably had at least one course called "economics." Did it use equations? Then it wasn't economics. Did it refer to aggregates, "interest rates," variables, "inflation is a rise in the average level of prices," and "functions"? Then it wasn't economics. Were none of its statements referred back to the decisions and values of individuals and the pricing system? Then it wasn't economics. For the past eight decades, what has been taught as economics, has been the same tired fallacies advanced since the first man crawled out of a cave, and which have been refuted constantly over the course of the two and a half centuries previous to the 20th. The fallacies of Keynes, Gesell, and the Mercantalists have gained authority, new disguises, and have wormed their way into every class on economics. Those classes have, for over three generations, produced people who are remarkably consistent in rejecting economics. Look at any paper, and you will see the results. Paul Krugman, for instance, perhaps the most famous economist alive (How many words have been written about him, versus Thomas Sowell and Walter Williams combined?), applying the broken window fallacy to 9/11 three days after the attack in the New York...
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