Links to articles on Economics that I found interesting.
Links-Economics : 2 items
Myth that Capitalism works people harder - There's a myth that Capitalism turned people into wage slaves or starting increasing their workload. The truth belief stems from the profound ignorance of the believers. The facts show that:
- Before capitalism there was abject poverty and mass starvation, so people didn't work because they didn't have a diet that enabled them to do much but slowly starve to death. (Nobel laureates Robert Fogeland and Angus Deaton)
- Few understand the brutality (in hours and risks) of farm work, which was the alternative. The reason they fled to cities and industry is because the jobs were better.
- Today's jobs are better, easier, with more benefits, less death, more freedom -- and virtually none of it was "given" to us by governments.
Broken Window Links - The Broken Window Fallacy is a fundamental concept of economics (and logic) about seen advantages versus unseen costs.