Ian Fletcher has noticed [1] that they don’t discuss economics much anymore. Instead, we mostly hear something that pretends to be economics but is judgmental lecturing unsupported by any critical thinking. He calls it “fakeonomics,” and it goes something like this…
- Free markets are always right, always and everywhere.
- Anyone who doesn’t believe this is stupid. Smart people not only understand that free markets are best, they like free markets, because free markets mean opportunities to get rich.
[2]Image by Tiero at Dreamstime (with permission) - Or maybe they’re corrupt. The opposite of free markets is government. Government is always incompetent. It never does anything right. Ever.
- Or maybe they’re evil. Anyone who doesn’t believe in perfectly free markets is a Marxist wannabe or a loser jealous of more-successful people.
- Free trade is just free markets applied internationally.
- Therefore all smart, good, successful people must believe in free trade.
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