Tuesday, August 31, 2021

Putting things in perspective …

… We Were Not Taught | Wirkman Comment. (Hat tip, Dave Lull.)

In economics as in medicine, the rule is that everything has costs, including all good things. Every policy that you propose faces trade-offs, and all touted good medicines induce negative side-effects. In policy or therapy, when someone shills a cure but talks only about its beneficial effects, considering costs only in not using it, that shill is a con artist.

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