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Second Rule of Economics

Everything you do has unexpected consequences.

So does not doing anything.

{ 2 } Comments

  1. NTW | 2008-Sep-23 at 18:06 (@795) | Permalink


    The “precautionary principle” is one of the best-known decision principles that ignores the second rule.

  2. Charlie | 2008-Sep-23 at 18:13 (@800) | Permalink

    Yes, not to mention the nursery rhyme “Little Bo Peep”.

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