7 important money lessons to learn from 'Economics in One Lesson' book
Arjit SaxenaJun 13, 2023
Market is a process, actuated by the interplay of the actions of the various individuals
Bad economist sees only what immediately strikes eye; good economist also looks beyond
The long-run consequences of policy are often exact opposite of immediate consequences
Inflation is always and everywhere a monetary phenomenon
Government cannot create purchasing power out of thin air; it can only redistribute it
The real cost of anything is the alternative that has been foregone
Subsidies create more of whatever is being subsidized
Economics is haunted by more fallacies than any other study known to man
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