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The end of our 50-year stagnation | Tyler Cowen

The TED Interview

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What Is Economics More Than the Study of Capitalism?

There are two fundamental points of economics that i think are extremely valuable, and actually very, very hard to learn. The first is there is almost always a trade off. And the second is that incentive matter. So it's not about money, not even about prices,. Not n orouly about markets, though it ends up being about markets often. But this logical move that we're gaing wrigte down, here's what people want, and then write down here the constraints, and then start trying to solve for some kind of equilibrium. Ok? What people want, constraints. That's another way of saying incentives and trade offs. Correct? Give me an example of those

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