Fifty Economic Fallacies Exposed

197 Pages Posted: 11 Mar 2005


Since 1988, Professor Geoffrey Wood of the Sir John Cass Business School, has written a regular column in the IEA's journal, Economic Affairs, in which he exposes popular economic fallacies. Fifty Economic Fallacies Exposed collects fifty of these columns and exposes numerous common fallacies.

These lucid and stimulating columns are invaluable to students struggling to master some of the complexities of economic theory and its applications, who often find the most effective way to learn economic analysis is to see such fallacies exposed. It is a text particularly suitable for first year economics students, complementing existing textbooks as it does, and clarifying basic concepts in economics while demonstrating the practical uses of economic theory.

Keywords: economic fallacies, economic theory

JEL Classification: F1, F10, F34, F35, B25, O1, O11

Suggested Citation

Wood, Geoffrey E., Fifty Economic Fallacies Exposed. IEA Occasional Paper No. 129, Cass Business School Research Paper, Available at SSRN: or

Geoffrey E. Wood (Contact Author)

Cass Business School ( email )

London, EC2Y 8HB
Great Britain
+44 0 20 7040 8740 (Phone)
+44 0 20 7040 8881 (Fax)

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