posted by PaulNoonan at
"The misunderstanding in these letters is evidence that economists are the last people who are obsessed with prices -- the last people who believe that the only things that matter are money and costs expressed in money. Rather, it's non-economists who are obsessed with money measures and money prices; it's non-economists who are most prone to overlook costs that aren't pecuniary -- to assume that only when people make monetary outlays do people incur costs."I think the single best thing that has happened to American popular culture in the lat couple years has been the pop economics fad that my buddy dhodge has written about. I think peopel are finally beginning to understand the real costs of a variety of activities, and, I hope, this will change people's actions, and especially their voting behaviors. The above paragraph ought to be posted on the walls of every middle-school classroom in the country.
By MDS, at 10:30 AM
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Whenever you give the government the power to do something for you, you also give it the power to do something to you.