Every year has its own weird economic ideas which crop up. Back in 2012, there was the talk of the economic “silver lining” to the destruction caused by Hurricane Sandy (by people who are clearly not familiar enough with the parable of the broken window).
2015 had its own share of odd economic theory, and Caroline Baum over at Economics 21 has made a list of the loopiest arguments she encountered this year. Among them are some of the same old biases for labor and against immigration, some newer assertions about lower oil prices, and some bizarre arguments about “pent-up demand”.
Read the full article here.