05 July 2009

The Ten Commandments Of Microeconomics

Two notes:
1. Jodi should be the economist in the commercial
2. Here's the list:
The Ten Commandments of Microeconomics:
1. Thou shalt not idolize a social planner
2. Thou shalt not take private property in vain
3. Thou shalt honor the opportunity cost
4. Thou shalt honor the unintended consequences
5. Thou shalt not use price controls to alter market outcomes
6. Thou shalt not use taxes or subsidies to alter international trade
7. Thou shalt not ignore the power of incentives
8. Thou shalt not bear false witness against the goodness of greed
9. Thou shalt not covet fairness without honoring efficiency
10. Thou shalt not always covet government solutions to externalities
The Ten Commandments Of Microeconomics…

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