Ten Key Ideas: Opening the Door to the Economic Way of Thinking

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Introduction

Here are ten fundamental ideas to help you explore and understand the world around us using the economic way of thinking. I've written an essay on each idea and listed some reading and listening suggestions if you want to learn more. The essays are all written for a beginner but some of the ideas are subtle and will be of interest to much more experienced readers. The suggestions for further learning include classic works of economics, podcasts, entries from the Concise Encyclopedia of Economics and other resources from this site and elsewhere. Enjoy.

The Ideas

Incentives Matter

Understanding Costs

How Markets Work

How Prices Emerge

Comparative Advantage

The Division of Labor

The Extended Order of Cooperation

Externalities

  • Coming soon.

How Politicians Behave

What Politicians Can and Cannot Do

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