Milton Friedman The Case for Free Markets Twentieth-century American economist and public explainer who turned free-market ideas into plain language and tied economic freedom to political freedom. Thinker
Thomas Sowell Consequences Over Intentions American economist who insists there are no perfect solutions — only trade-offs — and that policies must be judged by results, not intentions. Thinker
Trade-Off A trade-off is the idea that choosing one option usually means giving up something else. Because resources like time, money, and labor are limited, individuals, businesses, and governments must constantly make decisions between competing priorities. Economists often emphasize that there are no perfect solutions — only different costs and benefits.
Supply and Demand Supply and demand describes how prices change based on how much of something exists and how many people want it. When demand increases or supply becomes limited, prices usually rise. When supply increases or demand falls, prices tend to drop.