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In a free market, money doesn't grow on trees: supporters of big government have been blaming the current economic crisis on the free market. We shoot down five of their anti-free-market fallacies and show where the fault really lies.(ECONOMY)(Cover story)(Company overview)

The New American

| November 24, 2008 | Scaliger, Charles | COPYRIGHT 2008 American Opinion Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

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"Economics is haunted by more fallacies than any other study known to man," economist and journalist Henry Hazlitt once pointed out. "The inherent difficulties of the subject ... are multiplied a thousandfold by a factor that is insignificant in, say, physics, mathematics or medicine--the special pleading of selfish interests." In the introduction to his epigrammatic classic, Economics in One Lesson, Hazlitt explained that special interests and their kept economists have always been skillful at sowing public confusion over sound economic principles: "The group that would benefit by [bad economic] policies, having ... a direct interest in ...

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