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Define the term "propaganda" from an economic point of view

Business Dec 27, 2020

Define the term "propaganda" from an economic point of view.

Expert Solution

Propaganda is usually a piece of distorted information or half-truth that is established to influence public opinion. The propaganda narrative can be used to shape the global view of the economy. For example, propagandist may influence the public on issues pertaining market with the objective of controlling the level of prices in the market. In economics, propaganda can be applied for both malicious or positive engagements. For instance, there have been rumors that Covid-19 vaccine was a hoax, and it was used to benefit few countries after they sell the vaccine.

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