Isn’t it click-bait to headline an article:
Economists Have Been Lying To Us- Not intentionally, but they’re still wrong.
A lie is the intentional telling of a statement the speaker believes is untrue. So what the author really is saying is that economists are wrong. To say they are “Lying” is a great example of inflammatory click-bait. It should get all readers to question the motives of the writer.
It is a broad brush charge that appears to accuse all economists of telling fibs. But it turns out the author is just accusing the Neo-Liberal economists. But what defines this group and distinguishes this group from others is never made clear. The author could surely benefit from Econ 101 and a few higher level courses before making such bold wide-ranging accusations against an ill-defined group of people.
The author can’t let go of the “lying” accusation. He catalogues three big “Lies”. All of the Lies are debateably true. More critically, many of the author’s counterpoints are off point or factually inaccurate. Let’s look at Lie 3. Lie Number Three: Government regulations reduce business efficiency.
The author mounts a strange argument that declares what he calls a lie to be true.
If you’ll notice, we have relaxed regulations on businesses so much, and businesses have gotten so efficient that they are about to cook the planet. This is capitalism on steroids getting wasted at spring break during a bubonic plague epidemic. And that’s just climate change. So, according to the author removing regulations makes businesses so efficient that they produce too much and that leads to climate change. How, under any kind of logic, does that show it’s a Lie to think regulations reduce efficiency? Maybe it’s the author who is lying.