Well, strictly speaking, that's the Golden Rule of Everything, which I tend to phrase as "Reality is indifferent to your opinions." But here's the most fundamental strictly economic statement I know:
"Nothing in our material world can come from nowhere or go nowhere, nor can it be free; every thing in our economic life has a source, a destination, and a cost that must be paid by someone."
From Dreams Come Due: Government and Economics As If Freedom Mattered, by "John Galt."
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Well, strictly speaking, that's the Golden Rule of Everything, which I tend to phrase as "Reality is indifferent to your opinions." But here's the most fundamental strictly economic statement I know:
"Nothing in our material world can come from nowhere or go nowhere, nor can it be free; every thing in our economic life has a source, a destination, and a cost that must be paid by someone."
From Dreams Come Due: Government and Economics As If Freedom Mattered, by "John Galt."
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