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November 9, 2006

Filed under: politics»issues»economy

What We Learn When We Learn Economics

Mark Thoma at Economist's View recommends (with good reason) this article (warning: PDF) on the unspoken biases of undergraduate economics. Christopher Hayes, the author, notes that the concepts of free markets and market efficiency remain unchallenged in basic economic classes, while complications like externalities and irrational behavior--you know, the considerations of real people--are reserved for the advanced and graduate-level students.

This explains a lot of extreme free-trade rhetoric from amateur pundits. It also undermines the charge of left-wing indoctrination centered on universities.

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