Tetragrammaton.

Tetracket.

I think there are two core lessons to start with in economics.

The first is incentives matter.

So when you think about a social situation or an economy,

just try to figure out what all the incentives are.

It doesn't have to be money.

It could be fame or recognition

or just actually not wanting to have to work.

The second lesson of economics, as I see it,

is there is no free lunch.

So if you want to do something,

there's a trade-off, there's an opportunity cost,

don't think that you can just get something for free. So again, if you're

analyzing a choice and a business with respect to policy, if you don't understand what is the

opportunity cost, you probably don't know what you're doing. So I would say those are the two

key lessons of economics. Most good economics is fairly simple. If economics is super complicated, maybe I wouldn't entirely

trust it. And just take those as some key concepts out there to explore life. How different is

the theoretical versus the practical when it comes to economic matters? When the theoretical is

simple, it usually makes sense. So if you can explain an economic

idea to someone who is not an economist, that's a good sign. There's so much academic economics

out there. And some of it is very accurate, but often it's not that relevant. It's just designed to

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