1min snip

Tetragrammaton with Rick Rubin cover image

Tyler Cowen

Tetragrammaton with Rick Rubin

NOTE

Two Core Lessons of Economics: Incentives Matter and There's No Free Lunch

Incentives matter in social situations or economies, and they can be money, fame, recognition, or avoiding work./nThere is no free lunch; every choice has trade-offs and opportunity costs./nUnderstanding opportunity cost is essential for analyzing business choices and policy decisions in economics./nSimplicity is a characteristic of good economics.

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