Skip to main content

Christopher Marks

Coupled with arguments about the "real" unemployment rate, politicians claiming that increased global trade hurts the US economy highlights their economic illiteracy (or, more insidiously, their intention to purposefully misconstrue the truth).

"This error is among the oldest and most difficult to kill in economics — not only because this error is serviceable to domestic producers who greedily seek protection from competition, but also because it appeals to people who refuse to think beyond what is immediately and blindingly obvious."

The Oldest Fallacy in Economics | FEE http://fee.org/anythingpeaceful/the-oldest-fallacy-in-economics/