Dec 24, 2008
Professor Steven G. Horwitz: Economic Myths
- Myth: The cost of living has steadily risen throughout the 20th century, especially the last few decades.
- Myth: The 1980s were a decade of greed.
- Myth: The rich are getting richer and the poor are getting poorer.
- Myth: Wages have fallen in the last 20 years and the market is only creating bad jobs.
- Myth: We are running out of various resources.
Category: Economy
Posted by: admin
Professor Steven G. Horwitz
Charles A. Dana Professor of Economics
Department of Economics
Hepburn Hall
St. Lawrence University
Canton, NY 13617
Professor Howitz has a great article about about economic myths. which you can view here.
Add on top of that, because of the fact that he is a huge fan of Rush, I am guessing he is a great guy.
Oh, by the way, by Rush, I mean the band.
What myths does the good professor dispell?
- Myth: The cost of living has steadily risen throughout the 20th century, especially the last few decades.
- Myth: The 1980s were a decade of greed.
- Myth: The rich are getting richer and the poor are getting poorer.
- Myth: Wages have fallen in the last 20 years and the market is only creating bad jobs.
- Myth: We are running out of various resources.
While much of the mythbusting was done with data ending in the late 1990's, I learned in a recent email exchange with the professor, that updated material is on the way.
Will the results of the new data be the same? Who knows. But stop back to see the results.