A discussion with Matthew Bishop, Business Editor of The Economist and author of “Essential Economics

“Economics…should be understood as a way of thinking about the world—a way of thinking about it in terms of costs and benefits. Every decision has both an upside and a downside. I think that’s the characteristic that marks out economics from the other sciences: it is the science of choices. We should look at it more in terms of smaller decisions and the choices people make, rather than whether the government can deliver miracles in the economy at large.”

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