Laws of Economics

I have formulated three laws of economics. Like many such laws, they may appear obvious. But I don’t think this detracts from their truth.

Stein’s first law of economics:

When someone tells you, this time it’s different, sell. If they advance esoteric theories to back up their statement, sell at once!

Stein’s second law of economics:

When a government starts talking about repaying the entire national debt in the immediate future, budget deficits are just around the corner.

Stein’s law on the motivation of human behaviour:

We want more, better and free!

For more laws, check out the Murphy’s Laws site.

(Originally posted 7th June, 2006)