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Posted at 5:20 pm on January 15, 2011, by Eric D. Dixon
This guy reinvents the lessons of “I, Pencil,” by trying to build a toaster from scratch: [Cross-posted at Shrubbloggers.] Filed under: Gains From Trade, Technology Comments: 1 Comment
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| Tracing consequences both seen and unseen. |
"[T]he whole of economics can be reduced to a single lesson, and that lesson can be reduced to a single sentence. The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups."
[…] at The Lesson Applied.] — Eric D. DixonComments […]
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