Economics in Two Lessons: Why Markets Work So Well, and Why They Can Fail So Badly
Quiggin, John. 2019. Economics in Two Lessons: Why Markets Work So Well, and Why They Can Fail So Badly. Princeton University Press.
- Online at: https://b-ok.lat/book/5223486/b798d7
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An excellent academic (but readable) rebuttal to the propaganda in Economics in One Lesson, the fallacies of Economics 101, some Chicago Economics and some Austrian Economics. Very simply, markets do not take into account ALL opportunity costs.
- TANSTAAFL (2 links)
- Acronym for "There Ain’t No Such Thing As A Free Lunch". Used by libertarians to point out that "free" government programs have hidden costs in taxes. But of course the private sector has always been loaded with examples as well. Why is it OK for the private sector but not for government?
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