The Ten Commandment for Economists and Non-Economists

This is a fascinating set of rules I came across in Dani Rodrik’s book Economic Rules:

The Commandments

I really liked the 6th commandment for non-economists, which states “When an economist uses the term “economic welfare,” ask what he/she means by it”. While you are at it, make sure you ask them what they mean when they use the term “structural reforms” as well. It seems to be the single greatest solution to all of mankind’s problems. The specifics are often missing though, and perhaps, therein lies the reason why they have not been carried out.