Almost everything that politicians and pundits have said about the economic recession has been false. The six worst mistakes, promulgated widely since Paul Samuelsons best-selling textbook Economics first appeared in 1948, pertain to aggregation, relative prices, the rate of interest, capital and its structure, malinvestments and money pumping, and regime uncertainty.
Recession and Recovery
Six Fundamental Errors of the Current Orthodoxy
By Robert Higgs
This
article
appeared in
the Winter 2009/10 issue of The Independent Review.
Economic History and DevelopmentEconomic PolicyEconomyFiscal Policy/DebtFree Market EconomicsPublic Choice
Other Independent Review articles by Robert Higgs | ||
Fall 2019 | Pressure-Release Valves in Participatory Fascism | |
Winter 2018/19 | Two Worlds: Politics and Everything Else | |
Fall 2018 | Against the Whole Concept and Construction of the Balance of International Payments | |
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