Tracing consequences both seen and unseen.
Josh SmithPonynomics: Economic Lessons from My Little Pony
Posted at 8:02 am on January 19, 2013, by Josh Smith

There are a number of important economic concepts illuminated by the excellent My Little Pony: Friendship is Magic episode “The Super Speedy Cider Squeezy 6000” (season 2, episode 15). I want to talk about them here, but warning, there are some pretty heavy spoilers within.

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Henry Hazlitt"[T]he whole of economics can be reduced to a single lesson, and that lesson can be reduced to a single sentence. The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups."
Henry Hazlitt, Economics in One Lesson
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