There are a few myths in Economics and here is an attempt to handle a few of them. The worry is that these myths are so ingrained that we may all find it difficult to even accept that it is wrong. However, wrong it is, and let me start by enumerating them:
1. There is only one type of growth.
2. We pay interest ONLY if we borrow money.
3. The rich get richer because of God’s will.
4. Interest rates affect all of us equally.
5. Inflation is an integral part of growth, and is unavoidable.
6. The government wants to REALLY teach you – this could be any basic skill.
Will try to write about each of these myths…obviously some are more important than the others. No promises on when I will do it though!
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