This article by Lawrence W. Reed: 7 Fallacies of Economics points out some erroneous conceptions that contribute to the current mythology in economic discourse:
- “Society,” “community,” “economy,” are living, acting entities
- All individuals are alike
- Money is wealth
- Production exists for it for its own sake
- Economic goods can come with no cost attached
- Economics can disregard human nature
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I just love the concept that 'all individuals are alike'. I understand every concept up there except the first. And I think I am just being dense. How are they NOT living things? Don't they grow and shrink and move with the tides of change? Or is meant in a sense of needing to be nurtured? Ach!
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