ECON108: Day 1 – – – – – Tests and exams don’t have anything to do with exams, it is all about PERSONAL WORK Do not trust experts Symmetric effect why do we get demotivated by advice from experts/successful people If you go to college you earn about 2M dollars more than the identical version of you that did not go to college – – Research inflation He teaches about massive misunderstandings that led to the bad ugly stuff like wars and inflation – – Raising wages DOES NOT CAUSE INFLATION APPARENTLY???? Would our economy be better without money? (Instead of money, we sell/buy using old fashioned exchange) – Did the microscope become evil after seeing the bug?