President Harry once said that he wanted to find a one-armed economists. When he asked his economists for advice they always answered, On the one hand . . . On the other hard. Truman President Harry Truman once said that he wanted to find a one-armed economist. When he was right in realizing that econpmists advice is not always semight forward. This tendency is rooed in one of the Ten Principles of Economist people face trade-offs. Economists are aware that trade-offs are involved in most policy decisions. A policy might increase efficiency at the cost of equity. In might help future generations but hurt current generations. An economist who saya that all policy decisions are easy is an economist not to be trusted. Truman was also not alone among presidents in relying on the advice or economists. Since 1916, the presidents of the United States has received guidance from the Council of Economic Advisers, which consists of three members and a staff of ...