Seven Myths about Free Markets
By David Henderson
That’s the title of a talk I gave to Stephen Hicks’s philosophy class at Rockford College on Thursday morning and to economics students of Josh Hall and other economics professors at Beloit College on Thursday afternoon. After my talk at Rockford, Stephen Hicks did an 11-minute interview in which we managed to hit all 7 myths.
By the way, I lead with a “bonus” myth, not about free markets per se, but about why economics was called the “dismal science.” I’m willing to bet that under 5% of economists know the origin of the term and that under 20% of economists who are in the field of history of economic thought know the term’s origin.