I have heard a lot of lies in the world that we live from people who I meet in news stand, gatherings and other social places and interestingly, these people hold on to these lies which has made us not to be able to ask or answer some questions right. her
One lie I hear frequently is that economics is an objective science that has nothing to do with politics or morality but we all know that this is a lie and if you do not know this then let me explain it to you. To understand economics, we need to understand politics and morality. While the three are separate, they are intertwined with one another.
Adam Smith whom is regarded as the father of economics referred to himself as a moral philosopher since he was interested in what a good society was. When we are looking at morality and how people treat themselves, we cannot but mention power which is the backbone of decision making in a society. Monopoly, labor union, and other things related to the politics of decision making.
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Another myth I hear is that the government obstructs the free market but this isn't true because a market will not exist if there is no government to organize it and enforce laws on it which includes what can be owned, the amount of power that can be permissible in the market for ownership, what can be traded and under what circumstances, and what happens when a business cannot keep up with running. The government is made up of people and these people have been infiltrated by large corporations, the wealthy, and the royals, thereby giving them access to the market.
Another lie I have heard is that rich people work very hard and so they deserve all the money they get. Actually this is not true because incomes and wealth is determined by wielding the powers to set the rules of how money flows. People who fall under this category are CEOs of companies and large corporation and some people are just lucky to be born or married into a wealthy home.
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