Post
Topic
Board Economics
Re: Read this before having an opinion on economics
by
NghtRppr
on 18/04/2011, 10:07:27 UTC
Unfortunately this book is about as valuable as a teaching book for economics as Das Kapital. If what it says is in line with what you already wanted to believe, you'll love it. If not it's just political propaganda.

I disagree. Most people understand the broken window fallacy. This book shows them how that same reasoning applies to other things like price controls, protective tariffs, minimum wage laws, rent control, etc. If you understand the broken window fallacy, you'll be forced to agree with the other arguments presented. It's taking something that people implicitly believe and making it explicit. That's the most powerful educational tool there is.

Of course, that requires intellectual honesty. If people are just being closed-minded then your analysis holds.