Opinion and commentary about Mac and iOS applications, publishing and content consumption behavior, web and cloud architectures
August 20, 2009

Ten Principles of Economics by Mankiw in the translation of Yoram Bauman

Going from:

  1. People face tradeoffs
  2. The cost of something is what you give up to get it
  3. Rational people think at the margin
  4. People respond to incentives
  5. Trade can make everyone better off
  6. Markets are usually a good way to organize economic activity
  7. Govs can sometimes improve market outcomes
  8. A country’s standard of living depends on its ability to produce goods and services
  9. Prices rise when the gov prints too much money
  10. Society faces a short-run tradeoff between inflation and unemployment

to:

  1. Choices are bad
  2. Choices are really bad
  3. People are stupid
  4. People aren’t that stupid
  5. Trade can make everyone worse off
  6. Govs are stupid
  7. Govs aren’t that stupid
  8. Blah blah blah
  9. Blah blah blah
  10. Blah blah blah
economy
strategy