Economic Ideas You Should Forget

Both the field of economics and especially public perception are still haunted by economic theories that have long been out of date. For their book ‘Economic Ideas You Should Forget’, Bruno S. Frey (University of Basel and CREMA) and David Iselin (KOF) collected articles by economists and social scientists which highlight the weaknesses of various economic concepts.

‘Economic Ideas You Should Forget’ contains 71 short essays by renowned international economists and social scientists, including Daron Acemoglu, Ken Binmore, Clemens Fuest, Richard Easterlin, Jeffrey Sachs, Hans-Werner Sinn, Elsbeth Stern, David Throsby and others. KOF has contributed articles by Michael Graff, who writes about the obsolete idea that governments must reduce budget deficits, and by Jan-Egbert Sturm, who addresses the alleged asymmetry arising from the maintenance of fixed exchange rates. On top of this, their former KOF colleague Jochen Hartwig takes on Say’s Law, which postulates that production is the source of demand.