On the other hand, consumers make choices day-by-day, and change them based on their own desires. Furthermore, rather than taking things piecemeal, they are package deals, since politicians stand on multiple platforms. Political choices are binding until future elections. Things like housing, transportation, and education can be decided by either government or the market, and the need to understand the effectivity of each helps us answer which is better in each circumstance. In many general areas of society, there is an overlap in the abilities of government and economics to overlap. If you want to see my previous summaries and thoughts on this excellent book, please click here. This week, in the 20th chapter of Thomas Sowell’s Basic Economics, we finish looking at the national economy by exploring special miscellaneous issues not yet touched.
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