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“If you take from a theory only the conclusions you like and discard the rest, you are using the theory as a drunkard uses a lamp post for support rather than illumination.”
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“The job of economic theorists is to prove theorems. The job of policy economists is to figure out which theorems to apply.”
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“The cost of something is what you give up to get it.”
― Principles of Economics
― Principles of Economics
