What I learned in this chapter was that Economics is really present in every aspect of our lives (politics, social, personal). Economics is about being logical and rational, but we tend to act according to our emotions and feelings. It is significant for us people to understand it so that we can predict and prevent some events or things that might happen; e.g. the financial crisis starting 2008. How could be people so stupid, he asks? It`s that they were economically illiterate. People often look at small groups rather than the society and prefer their current benefit and wealth instead of thinking about the long run. It`s well portrayed on the example with cars. Everybody thinks about their individual advantage of driving the car, not “paying the whole bill”. But it harms the society as a whole by global warming or pollution.
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