Outstanding article on Zero Hedge about economics that everyone should read

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2EstablishZion
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Outstanding article on Zero Hedge about economics that everyone should read

Post by 2EstablishZion »

I saw a post recently that described Zero Hedge as a disreputable source. I have seen some of the items that they "re-post" that has been a little out there. But by and large, they do give good information, granted it does reflect their own biases.

That said, this article is outstanding and every non-economist (the rest of us) should read and ponder.

http://www.zerohedge.com/news/2017-03-0 ... %93-part-1
“Economics is haunted by more fallacies than any other study known to man. This is no accident. The inherent difficulties of the subject would be great enough in any case, but they are multiplied a thousandfold by a factor that is insignificant in, say, physics, mathematics or medicine — the special pleading of selfish interests. While every group has certain economic interests identical with those of all groups, every group has also, as we shall see, interests antagonistic to those of all other groups. While certain public policies would in the long run benefit everybody, other policies would benefit one group only at the expense of all other groups. The group that would benefit by such policies, having such a direct interest in them, will argue for them plausibly and persistently. It will hire the best buyable minds to devote their whole time to presenting its case. And it will finally either convince the general public that its case is sound, or so befuddle it that clear thinking on the subject becomes next to impossible.” – from Economics in One Lesson by Henry Hazlitt

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