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> second and third-order effects are not really talked about in Econ 101. Exactly, the purpose is to teach concepts, not the whole picture.
by sshine 10mo ago
> second and third-order effects are not really talked about in Econ 101.
Exactly, the purpose is to teach concepts, not the whole picture.
- Daishiman 10mo agoThe problem is that second and third order effects _are_ the concepts in many cases.