This post by Alex Marsh got me thinking. If economic ideas influence policy makers, what happens when the economic ideas turn out to be wrong?
This is not an idle question. Recently there have been three examples of economic ideas that have had huge impact on policy – and that have subsequently been shown to be false.Read on here.
* Of course some people will argue that the three economic ideas I have identified are not wrong - it is the research debunking them that is wrong.