What is On the Other Hand?

On the Other Hand is an economics and policy orientated newsletter. The phrase“On the Other Hand” has dual meaning. President Truman once remarked that he needed to find a one handed economist. His economic advisers were prone to saying well on the one hand, but on the other hand… Economists critically evaluate different options, unavoidable tradeoffs. Consequently, we sometimes have difficulty arriving at simple clear recommendations. Adam Smith wrote about the invisible hand of markets. Some forces in the economy seem simple obvious, and are easily understood. Smith pointed out that there are subtle and often unseen factors in the economy that matter a great deal. Economists can reveal and emphasize otherwise unseen forces in the economy. The ability of economists to uncover and rationalize subtle workings of the economy gives us unique and useful insights into public policy, and into life in general.

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