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Economics is the study of how societies use scarce resources to produce valuable goods and services and distribute them among different individuals. If we think about the definitions, we find two key ideas that run through all of economics:
The rule of recognition is the ultimate rule in a legal system, which identifies the criteria for valid law.
A journey is a person in itself; no two are alike. And all plans, safeguards, policing, and coercion are fruitless. We find after years of struggle that we do not take a trip; a trip takes us.