Tuesday, November 3, 2009

Economics in One Lesson

This is one of those links you tuck away and revisit when you need a fresh perspective or a reset of values when things are hazy...
Economics is haunted by more fallacies than any other study known to man. This is no accident. The inherent difficulties of the subject would be great enough in any case, but they are multiplied a thousandfold by a factor that is insignificant in, say, physics, mathematics or medicine-the special pleading of selfish interests. While every group has certain economic interests identical with those of all groups, every group has also, as we shall see, interests antagonistic to those of all other groups. ...
Economics in One Lesson