My dear Jil, of course you’ve heard of the phrase, “Ceteris paribus.” It’s a Latin phrase meaning “other things being equal.” Another translation of “ceteris paribus” is “all other things being constant,” or “all else unchanged.” It’s a deploy of economists in determining causation and isolating variables. It’s almost like freezing time. But it’s not really real because in life other things are never equal. In life all else don’t remain unchanged, all other things are not constant, every action provokes a reaction; a change occurs.
Continue reading