Unveiling Economic Myths: Insights from Pankhurst to Roman Empires

This article explores the fascinating journey of uncovering economic truths through the lens of historical events, from the writings of David H. Hapgood to the struggles for voting rights led by Mrs. Emmeline Pankhurst. By delving into these rich narratives, we gain a deeper understanding of the economic concepts and societal impacts that continue to shape our world today.

Unveiling Economic Myths through Texts

The journey began with the insightful book, The Screwing of the Average Man (1974) by David H. Hapgood. His work challenged the conventional understanding of economics, revealing the hidden flaws in the teachings of college courses like Samuelson’s.

After reading Hapgood’s book, the author realized that there was a missing piece in what was taught: the depreciation of durable consumer goods. He recalls an example where the instructor barely covered the Net National Product (NNP), which is less than half a page in a 400-page book.

This realization sparked further exploration into figures like Samuelson, and it led to the realization that economists had been overlooking the depreciation of consumer goods. This led him to wonder where and when this issue of depreciation is addressed in economic studies.

Further Reading: Made to Break and The Waste Makers

The fascination with economic realities continued with the works of Giles Slade’s Made to Break (2006), which elaborates on the planned obsolescence in consumer goods. It brings to light the stark contrast between consumer perceptions and the actual value of the products they buy. Similarly, The Waste Makers (1960) by Vance Packard, highlights the wasteful nature of consumerism and how it affects societal behavior.

The Influence of Societal Movements: Emmeline Pankhurst

The author's interest in economic truths was paralleled by a deep interest in social movements, particularly the struggle for women's suffrage, which was initiated by Mrs. Emmeline Pankhurst. Reading about her campaign for voting rights, he recognized the power of such movements in shaping not just social structures, but also economic ones.

Similarly, the rich history of the Roman Empire has always fascinated the author. Books like The Twelve Caesars and I Claudius offer a deeper historical context that intersects with economic and political analysis. These works help us understand the broader economic and social implications of governance, highlighting the cyclical nature of power and wealth distribution.

The Role of Education in Shaping Thought

The author reflects on the notion that education is not just about learning a subject, but about learning how to think about it. College is not merely a repository of knowledge, but a place to develop critical thinking skills. How many students actually internalize this lesson remains to be seen.

By critically examining texts and historical events, one can uncover economic truths that extend beyond the superficial. These insights are valuable not just for academics, but for anyone who seeks to understand the complexities of economic systems and their impact on society.

Conclusion

From the economic debates of the 1970s to the struggles for women’s suffrage, and from the history of the Roman Empire to the analysis of consumer goods, this article offers a glimpse into the fascinating world of uncovering economic myths. Through the lens of these texts and historical events, we can better understand the intricate interplay between economic systems and society, paving the way for more informed and critical thinking.