One thing to remember in economics

Signal vs Noise had this quote from Warren Buffet.

One thing to remember in economics is that you can’t do one thing in economics. There are always other effects that come out of it.

As I’ve heard someone say, the first step in learning to think like an economist is to ask “And then what?”

3 thoughts on “One thing to remember in economics

  1. As an Economist you have to be dynamic in reasoning because solution that fits one problem may not fit another or the same at different time or situation……..must be normative and positive in every economic decisions.

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