Wednesday, November 9, 2011

Heresies of Economics

These are my private laws of economics:

  • Heresy #1: People respond to incentives
  • Heresy #2: People respond differently to (the same) incentives, and this creates a functioning society.
  • Heresy #3: Not [All men are created equal].
I have an advanced degree in Economics from the School of Hard Knocks.  I missed many classes.  But as there was no government in the School of Hard Knocks, I decided to award myself the degree anyway.

No comments: