Throughout my time as an economics student at a public university, I’ve been taught lies on a weekly basis. On the first day of my “Principles of Macroeconomics” class, I was shown a quotation from John Maynard Keynes, and the semester preceded with the professor stumping for Keynesian pseudoscience day after day. I was taught that the prices were determined by some equation the professor made up. I learned that business cycles were the result of “animal spirits,” and the only way to solve this problem is for the government to step in and spend more money. Most appallingly, I was taught that central banking and government bureaucracies are what “saved” the economy whenever things went bad.
