Teaching the Fallacy of Composition: The Federal Budget Deficit - L. Randall Wray is a Professor of Economics at the University of Missouri-Kansas City,Teaching the Fallacy of Composition: The Federal Budget Deficit Policy Note No. 06/01 Professor L. Randall Wray-University of Kansas City http://www.cfeps.org/pubs/pn/pn0601.htm
New Page 1 www.cfeps.org One of the most important concepts to be taught in economics is the notion of the fallacy of composition: what might be true for individuals is probably not true for society as a whole. The most common example is the paradox of thrift: while an individual can save more by reducing spending (on consu... _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
