Anti-establishment revolt and post-truth politics: this twin phenomenon poses a serious challenge to economists. At a time when populism is mounting, it becomes even more difficult to propagate simple economic truths. However, economists do not have to abandon reason to make economics less dismal and more relevant to the average person, for they can connect with people’s intellect by appealing to their emotions. To change the way people think about economics, they must reclaim it from the technocratic elites who are responsible for giving it a bad name.
Ignorance of economics is not bliss. In this book, the author tries to debunk many economic fallacies with respect to domestic issues, from entrepreneurship to privatisation, from Ponzi finance to banking regulation, from interest rate to currency manipulation, from flat taxation to income inequality, from trade deficit to real estate. On every topic, he opposes real-world economics to popular economics, sound money to easy money, and free market to political power. The book contains statistical tables within each chapter and press interviews of the author in appendix.