Common Economic Myths Explained

After religion and politics, economics is the subject most likely to elicit heated debate and argument. Whether on social media or at the dinner table, empower yourself with some well-cited evidence and research courtesy of the Economic Policy Institute (EPI).

On its Working Economics Blog, the left-leaning think tank addresses some of the most frequently encountered myths about the U.S. economy, such out of control federal spending and job-killing increases to the minimum wage. Each counter argument is backed by links and citations to numerous other studies, which makes them well worth taking seriously, whether or not you agree.

So take a look here and arm yourself with the facts; it will make for a more interesting and constructive discussion. If you have any disagreements or counter-points of your own, then by all means share them here. I know economic arguments can be as emotionally changed and facts-adverse as those of politics or religion, but a civil discussion about something this crucial to human life is worth an attempt.

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