During the presidential campaign Donald Trump’s son, Eric Trump, tweeted a picture of a bowl of Skittles candies along with the caption: “If I had a bowl of skittles and I told you just three would kill you. Would you take handful? That’s our Syrian refugee problem.” Trump’s tweet generated backlash from many corners but […]
If there is a single aspect of the economic way of thinking that I struggle to put into practice, it’s the idea of letting go of my sunk costs.
Limits to the homo economicus version of rationality are also limits to the explanatory power of some aspects of introductory-level economics. They do not, however, compromise the case for laissez-faire. If anything, they strengthen it.