Source: EconLog
by Scott Sumner
“In my first year of grad school, one of my professors had a long list of ‘forbidden words.’ These were terms that do more to confuse than enlighten when used in economic analysis. Terms like ‘need,’ ‘afford,’ ‘exploits,’ ‘vicious circle,’ etc. Today, I’ll argue that we might wish to add the term ‘must’ to that list.” (07/30/25)