"Human beings must make difficult choices. We are no longer in Eden. the world does not flow with milk and honey. We have to choose among cleaner air and faster cars, bigger houses and bigger parks, more work and more play. Economists do not tell us that any of these is bad. They only tell us that we cannot necessarily have them all - all at once. Economics is the study of choice. It does not tell us what to choose. It only helps us understand the consequences of our choices."
Tood G. Buchholz, "New Ideas from Dead Economists: An Introduction to Modern Economic Thought"
How well does economics help us understand the full consequences of our choices?
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