tag:blogger.com,1999:blog-3758330678390419129.post8168326567199072386..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: What is the Single Most Important Lesson a Person Can Learn From Economics? Robert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-3758330678390419129.post-10432884670473259902020-07-26T09:21:51.912-04:002020-07-26T09:21:51.912-04:007 billion people, each free to pursue their own, b...7 billion people, each free to pursue their own, best interests, is collectively in the best interest of the common good.Sui Jurishttps://www.blogger.com/profile/13797769895327734780noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-63348549027293228502020-07-25T17:18:47.021-04:002020-07-25T17:18:47.021-04:00Love Prof. Boudreaux's answer, especially the ...Love Prof. Boudreaux's answer, especially the last paragraph and would only add the slightly more compelling: First Do No Harm. Brian Ericksonhttps://www.blogger.com/profile/10188778202762603278noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-37443454745038584242020-07-25T13:11:14.054-04:002020-07-25T13:11:14.054-04:00My suggestion for the most important principle tha...My suggestion for the most important principle that economics can teach: "Individuals pursuing their own self interest can, under certain circumstances, promote the general economic welfare of society." That's counter-intuitive for 99% of the students that hear it for the first time. And it's our job to explain why it's true. In short, Adam Smith's Invisible Hand.Dominickhttps://www.blogger.com/profile/10113091064299237392noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-87951583015220674032020-07-25T11:43:39.272-04:002020-07-25T11:43:39.272-04:00Awesome! I didn't even really learn anything b...Awesome! I didn't even really learn anything but, the way Bourdeaux put it... AlexZouglehttps://www.blogger.com/profile/09903419350475485505noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-12438901916958835592020-07-25T09:35:17.752-04:002020-07-25T09:35:17.752-04:00I think Henry Hazlitt condensed it the best: "...I think Henry Hazlitt condensed it the best: "The whole of economics can be reduced to a single lesson, and that lesson can be reduced to a single sentence. The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups."Sui Jurishttps://www.blogger.com/profile/13797769895327734780noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-40494021523062228912020-07-25T09:13:37.726-04:002020-07-25T09:13:37.726-04:00What a wonderful commencement speech this would ma...What a wonderful commencement speech this would make, instead of the trash that all the famous personalities pontificate.The NAPsterhttps://www.blogger.com/profile/16631781625841157567noreply@blogger.com