The Two Things You Need To Know

Glen Whitman, Economist( (his Two Things You Need To Know is here), was asked the following at a diner:

“What are the two things you need to know about Economics?  Glen replied with:
         
                  1) Incentives matter.
                  2) There is no such thing as a free lunch.

He then came to the conclusion that:  "For every subject, there are really only two things you really need to know. Everything else is the application of those two things, or just not important.”

I think Glen Whitman is brilliant in his clear, concise and compelling summary of topics.


“I would have written a shorter letter, but I did not have the time.”  Mark Twain ended in a letter to a friend