Tag Archive: the economic way of thinking

  • Trade-Offs, Not Solutions

    Among my favorite observations made by Thomas Sowell is his insistence that in economic reality human beings confront, not the possibility of solutions to problems but, instead, only trade-offs.  We can have more of this good, but only at the cost of having less of that good.  T.A.N.S.T.A.A.F.L.  Such is economic reality. A frustration suffered […]

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