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Life in the Real World (Vol. 36)

Updated: Feb 7, 2023

analyticsbox | Jan 26, 2022

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At Main Street Economics, we are not professionals, we are not academics, we are not intellectuals. So what are we? We are common folks who understand the basics of human nature and common sense economics. And we are concerned about the economic dangers facing our Country that are not being dealt with.

WE ARE NOT ECONOMISTS: But we understand Economics 101

WE ARE NOT PSYCHOLOGISTS: But we understand Psychology 101

WE ARE NOT PHILOSOPHERS: But we understand Philosophy 101

WE ARE NOT POLITICIANS: But we understand Political Science 101

Main Street Economics exists to bring real world observations and common sense to interested citizens who haven’t thought about some of these things. Our goal is to make this country better through real world economics. To do that we must have some understanding of all of these disciplines.


  1. The most powerful forces in the world are INERTIA and INCENTIVES.

  2. Politicians' most important concern is to get reelected and retain power.

  3. We own our lives and are responsible for them.

  4. People respond to incentives, both positive and negative.

  5. Socialism does not work - the incentives are wrong. Individuals are not rewarded for their effort.

  6. Free enterprise unleashes the right incentives in a powerful way.

  7. Government is always inefficient - the incentives are missing.

  8. The welfare state hurts economic growth.

  9. Big government is not the solution to all our problems. Sometimes it is the problem.

  10. Uncontrolled government debt eventually dominates and destroys.

  11. There is grave peril in our enormous and growing national debt.

  12. There are no panaceas, so quit looking for them.

Let’s stop here and just reflect on Common Sense. That is all we ask, and if you do, you will be surprised by your conclusions.

In future emails, we will explore some of these in more detail.

Bottom Line

We want you to focus on the real world and what works and what doesn’t. You may not agree with what we say, we only ask you to think for yourself and follow your Common Sense. Good economic policy is the end game, because it is good for each and every person in our great Country. You have to learn and understand some of the fundamentals, then decide for yourself what makes sense.


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