Economics is haunted by more fallacies than any other study known to man.
This is no accident. The inherent difficulties of the subject would be great enough in any case, but they are multiplied a thousandfold by a factor that is insignificant in , say, physics, mathematics, or medicine -- the special pleading of selfish interests.
One of the great fallacies of our time is that the Nazis rose to power because they imposed order on chaos. Precisely the opposite is true
It is a fearful mistake for us to neglect the study of the Bible to investigate theories that are misleading, diverting minds from the words of Christ to fallacies of human production.
Most economic fallacies derive from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another.
Last Update: January, 2020