U.S.A. The Republic
How You Lost It!
To Return To This Menu,
|EO13519 - Federal Register Bank Fraud
Modern Money Machanics
I Bet You Thought
Most of us acquire two types of knowledge - "school knowledge" and "folk knowledge." Folk knowledge is information and "wisdom" passed from generation to generation or acquired on the streets.
For example, we're often told that sitting in a draft will give us a cold. Science tells us the common cold results from a virus. Yet, still we change our seat to avoid a draft. We may acknowledge that drafts only contribute to lowering our resistance to infection, but we still blame the breeze rather than the bug.
So too, most of us hold certain economic misconceptions - folk knowledge containing a germ of truth and a plague of misconception, economic myths picked up by misreading or the acceptance of "facts" from a friend or relative. Few of us are immune to economic myths or misconceptions. If you donít think so. I bet you thought ...