the unpopularity of economics

From The Historical Setting of the Austrian School of Economics by Ludwig von Mises:

The unpopularity of economics is the result of its analysis of the effects of privileges.

It is impossible to invalidate the economists’ demonstration that all privileges hurt the interests of the rest of the nation or at least of a great part of it, that those victimized will tolerate the existence of such privileges only if privileges are granted to them too, and that then, when everybody is privileged, nobody wins but everybody loses on account of the resulting general drop in the productivity of labor.[3]

[3] Cf. Mises, Human Action. 3rd Edition(1966), pp. 716-861.


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