Name: _____________________________________ Section: ___ SWBAT define scarcity and opportunity cost SWBAT explain how the government can improve of hinder market outcomes From: “Why economists are not popular” Town Hall By Thomas Sowell Apr 08, 2002 One of the many reasons why economists are unpopular is that they keep reminding people that things have costs, that there is no free lunch. People already know that -- but they like to forget it when there is something they have their hearts set on. Economists don't have to say anything when people are buying things at a shopping mall or at an automobile dealership. The price tags convey the situation in unmistakable terms. It is when people are voting for nice-sounding things that politicians have dreamed up that economists are likely to point out that the costs which the politicians have ignored are going to have to be paid, one way or another -- and that you have to weigh those costs against whatever benefits you expect. Who wants to put on green eye shades and start adding up the numbers when someone grandly proclaims, "access to health care for all" or "clean air" or "saving the environment"? Economists are strictly party-poopers at times like these.
- Fall '16
- john mull
- History, Government, Economists, SWBAT define scarcity