I need help finding two of the six principles of economics.
The website is: 150 years after fort sumter:why we're still fighting the civil war by Time Magazine
One is called the people respond to incentives in predictable ways.
My answer: " reigning over the study of slavery was Yale's u.b phillips, the son of the salve owners. For decades he was the only scholar to undertake a systematic examination of the plantation economy,which, he argued, was benign and civilizing force for african captives. He concluded that slavery was an unprofitable system that would have soon died out peacefully".
The other principle is the future consequences of choices are the ones that matter
My answer: "slavery was not incidental to America's origins; it was central. There were slaves at jamestown. In the 1600s, writes Yale's David Brion Davis, a towering figure amoung historians, slave labor was far more central to the making of new york than to the making of Virginia. The cotton trade made wall street a global financial force. Slaves built the white house.
To find the two principles of economics mentioned in the provided text, "150 years after fort sumter: why we're still fighting the civil war" by Time Magazine, you need to look for concepts that relate to the economic behavior of individuals and the future consequences of choices. Here's how you can extract the principles from the given text:
1. The principle of "People respond to incentives in predictable ways" can be derived from the following sentence: "For decades, he [Yale's U.B. Phillips] was the only scholar to undertake a systematic examination of the plantation economy, which, he argued, was a benign and civilizing force for African captives." Here, the incentive for African captives to respond predictably is the alleged depiction of slavery as a beneficial system, according to Phillips.
2. The principle of "The future consequences of choices are the ones that matter" can be inferred from the following sentences: "The cotton trade made Wall Street a global financial force. Slaves built the White House." These statements highlight the long-term implications and consequences of historical choices, demonstrating the significance of past decisions on the present state of the American economy.
By analyzing the text using these guidelines, you can identify and extract the two economic principles: "People respond to incentives in predictable ways" and "The future consequences of choices are the ones that matter."