AMERICA IN THE WORLD-ECONOMY - UNDERSTANDING THE MISUNDERSTANDINGS

One of the reasons why economists have difficulty in communicating wit h the general public is that economists are always talking about limit s, about why clever schemes will not work. Furthermore, successful bus iness executives have difficulty in recognizing that they do not know all about the economy. A number of illustrations are given of fallacio us thinking, and a plea is made to counteract the tendency to make suc h judgments.