Anger, confusion and the pot of money myth
in The pound and the fury
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Chapter 1 draws on conversations with hundreds of ‘everyday’ people about the economy, as well as recent research from other projects, to show that there is a significant democratic deficit when it comes to public understanding of the economy. Along with showing that the public has a weak grasp of how our economy functions, the chapter also demonstrates that underpinning the public conception is a vision of the economy as something akin to a ‘pot of money’. The chapter concludes by briefly outlining what is wrong with this vision of the economy by contrasting it to the accepted understanding of the economy taught in all introductory economics courses. This comparison makes it evident that myth is at work in the public understanding of the economy.

The pound and the fury

Why anger and confusion reign in an economy paralysed by myth

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