HKS Affiliated Authors
Frank and Denie Weil Director of the Mossavar-Rahmani Center for Business and Government
Charles W. Eliot University Professor
Excerpt
Excerpt
No Free Lunches but Plenty of Cheap Ones. Lawrence Summers, February 8, 2016, Opinion. "Tradeoffs have long been at the centre of economics. The aphorism “there is no such thing as a free lunch” captures a central economic idea: you cannot get something for nothing. Among the many tradeoffs emphasised by economists are guns v butter, public v private, efficiency v equity, quality v quantity or cost and short-term v long-term performance." Link