11 Quotes by Steven E. Landsburg

The chief merit of the price system is that it makes effective use of information that is not available to any single decision maker. When the price system is overridden, information is discarded. When information is discarded, resources are misallocated. When resources are misallocated, prosperity suffers. If you’re trying to make people prosperous, relying on prices is your best strategy.

Most of economics can be summarized in four words: “People respond to incentives.” The rest is commentary.