I think it fair to say that whatever we once thought we knew about economics, we no longer know. Saying so, I am not talking that much about economics theory, which few have ever comprehended, and whose relationship with reality has been so remote for so long that this might be a blessing. I am instead talking about the economic heuristics that govern what most people think about the way that the economy works.
No. The two things everyone needs to know, the base heuristics of the subject, are:
1) Incentives matter
2) There are always opportunity costs.
These haven’t changed and they’re not going to either. Not that Spud acknowledges either of them but then that’s what explains his misunderstanding of the subject under discussion.