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November 20, 2013

Don't Know Much About Economics

Bryan Caplan has written a wonderful post on the frankly ludicrous economic ideas embedded in American history textbooks:

In 11th grade, I took Advanced Placement U.S. History. I enjoyed it at the time. Once I started studying economics, however, I was outraged by the economic illiteracy of my history textbooks. Mainstream historians barely mentioned the unprecedented miracle of sustained economic growth. Instead, they focused on distribution: How poor workers used labor unions and regulation to pry their fair share from the heartless capitalists who employed them. These historians never mentioned the negative side effects of unionization and labor market regulation - or even the view that such negative side effects existed.

Too good to even try to excerpt - read the whole thing.

Posted by Cassandra at November 20, 2013 07:28 AM

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Comments

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Posted by: Barry & the Choom Gang at November 20, 2013 08:15 PM