Popular Myths about the World Economy

  • Norman S. Fieleke
  • Published 1997


In remarks before the January 1997 meeting of the American Economic Association, Professor Robert M. Solow of M.I.T. drew upon his previous experience with the President’s Council of Economic Advisers to offer this advice for policymakers: “It ain’t the things you don’t know that hurt you, it’s the things you know that ain’t true.” Many of us “know” such things, and sometimes act, or urge our representatives to act, on our mistaken beliefs. This article examines three common myths, or misconceptions, about the international economy. As with most myths, these embody grains of truth, but if accepted without qualification could lead to grievous policy errors.

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Cite this paper

@inproceedings{Fieleke1997PopularMA, title={Popular Myths about the World Economy}, author={Norman S. Fieleke}, year={1997} }