Paying people for useless jobs? Friedman's teaspoon analogy is pure gold. Digging ditches with spoons? All the jobs you could create! #MiltonFriedman #Economics #JobCreation #Efficiency #Satire

Let's update trickle down economics | trickle

Robert Lucas — The Nobel Idea That Changed Economics (1995) #Shorts

I thought studying economics meant learning how economies work everywhere. That the models were neutral and universal. Then I saw what happens when these models are applied in the real world and realized how quickly things fall apart. Most economic degrees don’t tell you they're handing you one intellectual tradition among several and calling it universal. The models just get presented as “how economies work”. The Washington Consensus demonstrates a clear example of what this costs; of how “neut

#thoughtdaughter | sunk cost fallacy

The highest taxpayers are not the same as the richest people