EclectEcon

Economics and the mid-life crisis have much in common: Both dwell on foregone opportunities

C'est la vie; c'est la guerre; c'est la pomme de terre . . . . . . . . . . . . . email: jpalmer at uwo dot ca


. . . . . . . . . . .Richard Posner should be awarded the next Nobel Prize in Economics . . . . . . . . . . . .

Saturday, September 10, 2005

A Bit Overdone, Perhaps,
but frighteningly plausible

Steven Plaut wrote this column last October. It sets out, in an eerie parallel to the past, the potential horrors of appeasement and the seeking of "peace at any cost" in the Middle East.

If we believe that people respond to incentives, then a large part of policy-making must include trying to discern how much they respond and to which incentives. The only way to answer these questions is empirically, using experience and data from past events.
 
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