1. There are no rules of economics. Economists attempt to understand things that happen and use that understanding to predict future events, but frankly there’s not a lot of consensus.
2. Economics is a function of human behavior, not horse behavior. Economics is about coordinating human effort. Humans make economics, horses don’t. When economics change in a way that is bad for horses, the horses have no recourse. When economics change in a way that is bad for humans, the affected humans seek to change things.
2. Economics is a function of human behavior, not horse behavior. Economics is about coordinating human effort. Humans make economics, horses don’t. When economics change in a way that is bad for horses, the horses have no recourse. When economics change in a way that is bad for humans, the affected humans seek to change things.