Thursday, April 10, 2008

Econmic Myths

If you tell people they don't have enough money, they will usually agree. Reports like these always make the front pages of money magazines and websites:

Harder to handle widening income gap in recession - Apr. 9, 2008: "NEW YORK ( -- Poor and middle-class families are entering the recession in a precarious situation due in part to declining or stagnant income growth, a study released Wednesday has found."

Here is a video that briefly addresses the fallacy:

A longer podcast with Thomas Sowell discussing more economic myths is here

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