Sublime

She explained that an externality was not irrelevant, but, rather, uncounted—a consequence without a cost.

Third, we are fearful creatures and go to great lengths to preserve a sense of certainty, even when we know it to be false.

Individual behavior leads to aggregate outcomes, and aggregate outcomes—the aggregate patterns in the economy—cause this individual behavior to adapt and change.

Wright, Robert. NonZero: The Logic of Human Destiny. New York: Pantheon Books, 2000.

people maximize their well-being, and that they do so through exchanges with others. The influential formulations of Gary Becker and the Chicago school hold that this economic approach to human behavior can be applied to anything. People can decide that what matters most to them is preserving nature, raising children,

Weigh second- and third-order consequences.