Tuesday, October 26, 2021

The Left-Wing Bias in Economics Textbooks - El American

The Left-Wing Bias in Economics Textbooks - El American
  • Academia is largely a left-wing bubble, full of people who teach because they can succeed at nothing else
“Economic illiteracy is dangerous,” warns economist Todd Buchholz...if I ignore basic economics, I could go broke. 
 And if a country ignores basic economics, it could go bankrupt.
...Why else do you think the Biden administration officials would claim that some $4 trillion in proposed new government spending would cost “zero” (as the President himself has claimed)?
 They’re hoping that enough people will know so little economics that they can get away with it.
...In my memory, one of the worst examples of bias in economics textbooks came from Principles of Economics, 12th Edition (1985), written by the late Paul A. Samuelson and William D. Nordhaus. 
Writing about the economy of the Soviet Union (which died an overdue death six years later), the authors claimed that “there can be no doubt that the Soviet planning system has been a powerful engine for economic growth.”...Read all.

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