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Ep. 679: Jeffrey Miron Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

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The Constraints of Economics

Economics is the observation that resources are scarce or resources are finite. We can't just assert that we should double GDP between this year and next year. There are limits, there are things that constrain the amount of resources we have. This is not a matter of whether people are rational or not,. Whether they have psychological influence or not. Your choices have to satisfy the constraint.

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