Economyths errata
Here is a list of mistakes in the 2010 edition, which have been corrected in the 2012 edition.
Pg 216. I quoted a book “Environmental Economics in Theory and Practice” as saying that, in a perfect market: “prices ration resources to those that value them the most and, in doing so, individuals are swept along by Adam Smith's invisible hand to achieve what is best for society as a collective. Optimal private decisions based on mutually advantageous exchange lead to optimal social outcomes.” The authors later go on to note that markets for environmental goods are far from perfect, so the quote was somewhat misleading and I have amended the section.
Pg 114. In a segment on Keynes, it should say he “believed that government policy was essential to moderate the business cycle.”
Thanks very much to readers who have written in with comments and corrections.