BONUS EPISODE: Economic Law #10 | Hn 259

**Adam Haman** (0:07)
Hello, welcome to Haman Nature. I am Adam Haman. I'm joined by my buddy, Tyrone the Porcupine Hobo. How are you doing, brother?

**Tyrone** (0:14)
Good, man. Good.

**Adam Haman** (0:17)
We are working our way through behind the paywall. Thank you so much for supporting our little show. Doing the back half of Hunter Lewis's Economics In Three Lessons. This section is 100 Economic Laws. And we're all the way up to law number 10, which is corollary I of Law of Analytical Laws, called Universality, Tyrone.
Can you say a word that big?

**Tyrone** (0:48)
You're giving me the ones with the big words.

**Adam Haman** (0:51)
It's a short section, but it has universality in it.

**Tyrone** (0:55)
I had to do the other one with the 12 syllables in it.

**Adam Haman** (1:01)
At least it wasn't Rory, Tony.

**Tyrone** (1:04)
Yeah, at least, at least. Okay, here we go.
Law number 10, corollary I of Law of Analytical Laws, universality. Economic laws apply without exception to everyone.

**Adam Haman** (1:19)
Everyone?

**Tyrone** (1:20)
Even you, Don.

**Adam Haman** (1:21)
Me?

**Tyrone** (1:23)
Even you, Don. You know who I'm talking about.

**Adam Haman** (1:28)
Don Draper?

**Tyrone** (1:30)
Don Rickles. Ronald McDonald. That's how I call him.

**Adam Haman** (1:33)
All right.

**Tyrone** (1:35)
Economic law does not speak in a religious or moral voice. Although by reminding us of the inescapable realities we must face in life, it may influence, even heavily influence, our choices in these and all other spheres. Its general methodology is to advise us that if our goal is A, for example, less poverty and more prosperity, then approach B is more likely to help us realize it over time, with fewer negative effects than approach C or D. This applies to anyone, whatever their personal goals may be.
That's it. That's the whole law.

**Adam Haman** (2:19)
That's Law 10

**Tyrone** (2:21)
See you guys next time. That all laws apply to everyone. And again, this one's pretty much another a priori prima facie thing that I think is just good to put these things on paper.

**Adam Haman** (2:35)
Yeah, I want to spend a couple of minutes flushing it out because it's so short.

**Tyrone** (2:40)
Sure.

**Adam Haman** (2:43)
I think he put this in there because if he didn't, somebody might say to themselves, well, economic laws like this apply in our culture because of the general way we've shaped our relationships and whatnot, our economic system. But what they're doing over there in Bangladesh or what they did in the year, negative 500 BC, if they'd embraced Marxist man in Soviet Russia, maybe things would have been different. And the point is, no, no, no, this is a function of, again, when Mises wrote Human Action, he wasn't even basing it on humans necessarily, on man. It was any actor in our universe that has to make choices in linear time is going to have to act. And in that demonstrated preference, there's going to be ordinal rankings and diminishing marginal utility and all the rest of it. And so it does not matter what year it is or what place on the planet it is. If you're on the Antarctica or on the North Pole, doesn't matter what the culture is, doesn't matter how conservative it is or how permissive.
These economic laws apply to...