My friend the economist John Phelan says that the entire field of economics can be summed up in the statement that incentives matter. This is a good example. Why do illegal immigrant theft rings steal in New York, go to Florida to spend their loot, and then return to New York to steal some more?

My friend the economist John Phelan says that the entire field of economics can be summed up in the statement that incentives matter. This is a good example. Why do illegal immigrant theft rings st…{ai:summary}<p>"The economist John Phelan claims that incentives matter in economics. Such is the case with illegal immigrant theft rings who steal in NY, spend the stolen goods in FL, and return to NY for more theft. #economy"</p>

Incentives Matter

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