RULE OF ECONOMICS

So there we were, in one of our informal noontime forums, this one led by an economist. The group itself was multidisciplinary, which made for some lively discussion.

As we analyzed the problem at hand, we saw that there were downsides to every possible solution we envisioned. No course of action was perfect, although some appeared to be better than others. Any way we turned, we’d be making some kind of mess for someone else to clean up or a burden for one group or another to carry.

We laughed, realizing that this is the way most of life actually is. There’s almost always a cost involved, and often unintended consequences.

And then one of our colleagues summed it up in a line that became our institute’s unofficial motto:

UNMIXED BLESSINGS ARE IN SHORT SUPPLY.

Once in a while, economics really does touch on reality.

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