3 economic myths most people still believe in.

Unlearning Economics has a brief but succint list of estabilished economic myths and why they are wrong.

  • Rich countries did not get rich through free trade, but through the use of protectionism and other state interventions such as capital controls and subsidies.[…]
  • Money did not arise as a solution to the ‘double coincidence of wants[…]
  • Peasants did not freely move from their land into 12+ hour days in factories because it was ‘better than the alternative.[…]

Worth a read.


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