~ TA-FBI-YNTKIM-WYTA-‘S’:PAS/TIOE/EDUEE/CTHTAU ~ There Are – Four Big Ideas – You Need To Keep In Mind – Whenever You Think About – “Society”: People Aren’t Stupid / The Importance Of Equilibrium / Everything Depends Upon Everything Else / Certain Things Have To Add Up

~ PAS-YNTRTEEIPASAW-TMNBDAGJOI-B-TADI-A-IOFYPASTWO-YGTHTTTIC-ECT-TSDOSA ~ People Aren’t Stupid – You Need To Remember That Everyone Else Is Planning And Scheming As Well – They May Not Be Doing A Great Job Of It – But – They Are Doing It – And – In Order For Your Plans And Schemes To Work Out – You’re Going To Have To Take Theirs Into Consideration – Economists Call This – The Strategic Dimension Of Social Action

~ TIOE-UAAOTHNTTC-BPATBIRTCITE-YCPWTGTDJBLAWTACD-YHTFOHTGTRTTC-AWTRIGTCFC-ASO ~ The Importance Of Equilibrium ~ Understood As An Outcome That Has No Tendency To Change – Because People Adjust Their Behavior In Response To Changes In Their Environment – You Can’t Predict What They’re Going To Do Just By Looking At What They Are Currently Doing – You Have To Figure Out How They’re Going To Respond To The Change – And Whether This Response Is Going To Cause Further Changes – And So On

~ EDUEE-BTATALOQRDDUTATALOOQ-WSHAWWTCIE-WHTMSTWTTBFE ~ Everything Depends Upon Everything Else – Because The Answers To A Lot Of Questions Really Do Depend Upon The Answers To A Lot Of Other Questions – Whenever Something Happens And We Want To Consider Its Effects – We Have To Make Sure That We’re Tracing Them Back Far Enough

~ CTHTAU-ETSSS-SEMBS-BTOWTSSITSITSE ~ Certain Things Have To Add Up – Every Time Someone Sells Something – Someone Else Must Buy Something – Because The Only Way To Sell Something Is To Sell It To Someone Else