Economics graduation speech in under 300 words

http://www.vox.com/2014/4/19/5631654/this-graduation-speech-teaches-you-everything-you-need-to-know-about

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In 2011, Thomas Sargent won the Nobel prize in economics. But in 2007, he gave "a graduation speech":https://files.nyu.edu/ts43/public/personal/UC_graduation.pdf to Berkeley undergraduates that still stands as one of the greatest, shortest introductions to economics — and to life.

He began with a simple promise. "I will economize on words," he said. And he did.

What looks easy is often hard. Even great ideas have tradeoffs. It's not a pessimistic view of life — or even of government. It's a realistic one, and it prevents, or at least predicts, a lot of problems.
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