Nation of Beancounters

“Economics is detested because it doesn’t just study vice it shows that some vices have good consequences”

Posted in Quotable by Navin Kumar on June 13, 2014

Alex Tabarrok.

A good paragraph:

Consequentialist philosophers also look at consequences but economists have the tools to trace interactions as they sort themselves into an equilibrium. Equilibrium outcomes may be very far from intentions. As a result, we find that economists often places themselves and their discipline in opposition to standard morality.

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