Cogent Texan @Cogent_Texan@qoto.org

I love #economics because its basic principles are so powerful and generalisable (ie, it's not just “about #money”).

I started using Greg #Mankiw's very popular textbook _“Principles of Economics”_ as a reference a few years ago, and since then I find myself applying its “ten principles of economics” often in everyday life.

This week I learnt that David #Henderson has been teaching his own “ten pillars of economic wisdom” for decades. Those seem good, too.

So I decided to merge both!

Hereby I present the main insights of economics condensed in **fourteen principles of economics**. Even if you don't like econ as a subject, you'd do well to heed these ideas:

👉 In common (_Mankiw ≃ Henderson_):

* Rational people **think at the margin**. ≃ Economic thinking is thinking on the margin.
* People respond to **incentives**. ≃ Incentives matter; incentives affect behavior.
* **Trade** can make everyone better off. ≃ The only way to create wealth is to move resources from a lower-valued to a higher-valued use. Corollary: both sides gain from exchange.
* A country's standard of living depends on its ability to produce **goods and services**. ≃ The only way to increase a nation’s real income is to increase its real output.
* **Markets** are usually a good way to organize economic activity. ≃ Competition is a hardy weed, not a delicate flower.
* Society faces a short-run trade-off between **inflation and unemployment**. ≃ Creating jobs is not the same as creating wealth.

👉 Mankiw's:

* People face **trade-offs**.
* The cost of something is **what you give up** to get it.
* **Governments** can sometimes improve market outcomes.
* Prices rise when the government **prints too much money**.

👉 Henderson's:

* TANSTAAFL: There ain’t no such thing as a **free lunch**.
* **Information** is valuable and costly, and most information that’s valuable is inherently decentralized.
* Every action has **unintended consequences**; you can never do only one thing.
* The **value** of a good or a service is subjective.

No Agenda Episode 1410 - "Spock Tiled" http://l.curry.com/fvz

By Dame Kenny-Ben - Dark Christmas

By Dame Kenny-Ben - Santa bringing vaccines

FDA Releases More Data On "Adverse Reactions" To Pfizer Vaccine

Now, documents released by the FDA reveal that drugmaker Pfizer recorded nearly 160K adverse reactions to its COVID vaccine in the initial months of its rollout.

https://www.zerohedge.com/covid-19/fda-releases-more-data-adverse-reactions-pfizer-vaccine

“1984 for the 21st Century” From NY Times bestselling author Warren Fahy comes a novel of our times as the world teeters on the brink of tech tyranny: https://www.amazon.com/Magenta-Novel-Warren-Fahy-ebook/dp/B09773ZYDZ/ref=tmm_kin_swatch_0?_encoding=UTF8&qid=1624221638&sr=1-1

An origin of syphilis documentary from 2017 that gets into the science of how viruses ACTUALLY WORKED prior to covid (when almost the entire scientific establishment "forgot" how viruses really work). I'm planning on using this video later to post on some poor lefty's twt who will still believe all the bs handed to them by the media and corrupt, lying and complicit doctors and scientists. The whole thing is really fascinating but the nitty gritty begins at 39:00. #virus

https://youtu.be/2bWNF_eNwvI

Last night in China:

University of Hong Kong removes Tiananmen Massacre monument in dead of night

https://hongkongfp.com/2021/12/23/breaking-fears-for-condemned-tiananmen-massacre-monument-as-university-of-hong-kong-erects-barricades-around-statue-overnight/

RT from XDA (@xdadevelopers)

Vivaldi partners with Polestar to create first browser for Android Automotive https://www.xda-developers.com/vivaldi-android-automotive/

RT from Sasha Lekach (@sashajol)

A real browser (@vivaldibrowser) will be in the @Polestar 2 center screens >> https://vivaldi.com/press/embargoed/vivaldi-the-first-browser-for-android-automotive-os-now-in-polestar-2/

Here's a great article by Teacher Tom.
We include a piece by Teacher Tom in our book "Could Johnny Build a Bridge?"
We believe that every child deserves to have a Teacher Tom.

http://teachertomsblog.blogspot.com/2021/12/this-really-hard-messy-emotional-work.html

Trump hit an iceberg. This is the signal.

Rolling Snake Eye, ITM!