Next time you find yourself doubting Bitcoin thanks to the 'brilliant experts' over at MIT, Harvard, and the like, just remember that Paul Samuelson habitually overestimated Soviet economic growth (for 20 years, from 1961 to 1980).
Here’s a nice table summarizing the numbers relayed to millions of students over the decades:
Levy and Peart find that Samuelson was hardly alone. Successive editions of competing textbooks were also stubbornly optimistic about the USSR.
Read more on Caplan's blog:
#Grownostr #Bitcoin #Freedom #Economics #Soviet #Experts #EconHistory
Levy and Peart find that Samuelson was hardly alone. Successive editions of competing textbooks were also stubbornly optimistic about the USSR.
Read more on Caplan's blog:
Why Were American Econ Textbooks So Pro-Soviet?
Caplan and Candor