The myths that maintain us
Part of : Αρχείον οικονομικής ιστορίας ; Vol.XI, No.1-2, 2000, pages 99-116
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99-116
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There are six myths that, among others, serve to structure government policy, the economy and society. Like all myths, belief in them leads to action, and the results may be at variance with reality. These myths include the belief that inflation and unemployment are necessarily linked, and that the rise of one inevitably leads to a decrease in the other. A second myth holds that satisfied employees are more loyal to their employers, work harder, and produce more. The third myth is a double paradox that people have an inner need to work, but will stop if given enough money to live on without work; and that poor people reduce their work if given more money, but rich people will not work as hard if their incomes are limited. Then there is the trickle-down myth: That a rising tide lifts all the boats. Finally, is the myth that privatization results in improved services. This article examines the evidence for each of these myths, and concludes that social policy planners and executies would do well to divest themselves of these long-standing beliefs, in order to begin to plan a more equitable, stable, and happier society.
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