Economics in Two Lessons, Chapter 12

Thanks to everyone who commented on the first eleven chapters of my book-in-progress, <em>Economics in Two Lessons</em>.

Here’s a draft of <a href=”″>Chapter 12 on Predistribution</a>

Comments, criticism and praise are welcome.


Earlier draft chapters are available. These aren’t final versions, as I am now editing the entire manuscript, but you can read them to see where the book is coming from.

<a href=”″>Table of Contents</a>
<a href=”″>Introduction</a&gt;.
<a href=”″>Chapter 1: What is opportunity cost?</a>
<a href=”″>Chapter 2: Markets, opportunity cost and equilibrium</a>
<a href=”″>Chapter 3:Time, information and uncertainty
</a><a href=”″>Chapter 4:Lesson 1: Applications</a>.
<a href=”″>Chapter 5: Lesson 1 and economic policy</a>.
<a href=”″>Chapter 6: The opportunity cost of destruction</a>
<a href=”″>Chapter 7: Property rights, and income distribution</a>
<a href=”″>Chapter 8:Unemployment</a>
<a href=”″>Chapter 9: Market Failure</a>
<a href=”″>Chapter 10: Market failure -Externalities and pollution.</a>
<a href=”″>Chapter 11: Market failure: Information, uncertainty and financial markets</a>

Feel free to make further comments on these chapters if you wish.