Nirvana Economics: How Treating the Real World like an Imaginary Ideal World Leads to Trouble

Tags: Bureaucracy and Regulation

12/22/2021 Gary Galles

A lot of economic policy is based on “economics” which makes assumptions that have very little to do with actual reality.

Original Article: “Nirvana Economics: How Treating the Real World like an Imaginary Ideal World Leads to Trouble“

This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.

Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.