Mon. 10/03/15 21:13 EDT
.post #9
I realize some of these have already been stated.
More popular economic myths:
- booms and busts are inevitable
- booms are “good,” busts are “bad”
- the Fed ameliorates booms and busts
- some things “have” intrinsic value
- people exchange things of equal value
- there can be a “shortage of money,” just like there can be a shortage of other commodities
- your money is “in the bank”
- the government can provide what the market can’t
- the government can, on net, create jobs
- inflation is a rise in prices
- the amount of wealth in society is fixed, so when some people enjoy an increase, others must suffer a decrease
- wealth can be “equalized” by robbing some people and giving to others
- socialism is about equalizing wealth