Richard B. McKenzie

RMcKenzie@thefreemanonline.org

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Tampering with prices is no way to help people.

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Politicians Have Less Control over Labor Markets Than They Think

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The Foundations of Political Disarray: Lessons from Professor Hayek

The Pretense of Knowledge Plagues Our Political Leaders

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CURRENT ISSUE

December 2014

Unfortunately, educating people about phenomena that are counterintuitive, not-so-easy to remember, and suggest our individual lack of human control (for starters) can seem like an uphill battle in the war of ideas. So we sally forth into a kind of wilderness, an economic fairyland. We are myth busters in a world where people crave myths more than reality. Why do they so readily embrace untruth? Primarily because the immediate costs of doing so are so low and the psychic benefits are so high.
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