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Three Economic Myths to Put To Rest This Yearwww.cato.org/commentary/three-economic-myths-put-rest-year
470 sats \ 3 comments \ @scottathan 9 Jan econ
zaps forwarded to @jeff (20%)
TL/DR;
Myth 1: Income inequality in the US has risen since the 1960s
  • Most measures of income inequality use highly biased and faulty data.
Myth 2: Globalization has harmed US industrialization.
  • American manufacturing is one of the strongest industries in the world.
Myth 3: Government is the solution to all economic problems
  • Government spending and growth continuously expands, yet results in little to no economic benefit.
I would encourage everyone to read the entire article, since it's a fantastic discussion of these myths.
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204 sats \ 2 replies \ @jeff fwd 10 Jan
<meta> I opened this post shortly after it was posted, skimmed the myths, and thought to myself "#2 and #3 aren't myths to me, but I can see how some people might think they are". I didn't read/need to click through.
But then I noticed the zaps were forwarded.
Circled back, and read the article.
@scottathan effectively cc'd me on an article I wouldn't have read independently, but then influenced me into reading it, because I was wondering to myself "why did he forward these zaps?"
šŸ¤”
Interesting. </meta>
I would like to see the unbiased/non-faulty data surrounding #1.
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123 sats \ 1 reply \ @scottathan OP 10 Jan
<meta> I forwarded the sats since I figured since I've been wanting an econ territory for so long and you were willing to put up the sats for it, I might as well contribute some of my earnings to help you pay for ~econ. </meta>
I'm not an expert on the literature, but I suspect Cato is referencing here some of their recent research on how income inequality changes when you use a wider variety of sources and account for welfare and transfer payments.
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0 sats \ 0 replies \ @jeff fwd 11 Jan
Thank-you kind sir!
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